A data science team is building a model to predict the probability of customer churn (a binary outcome). The team decides to use a Logistic Regression model. Which of the following best describes the fundamental nature of Logistic Regression?
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A
It is a regression algorithm that fits a linear equation to continuous target variables.
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B
It is a classification algorithm that models the probability of a discrete outcome by applying a sigmoid function to a linear combination of features.
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C
It is an algorithm that primarily functions by finding the optimal hyperplane to separate data points into different classes.
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D
It is a non-parametric algorithm that classifies new data points based on the majority class of its nearest neighbors.