Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 03 Feb 2018 My Price 8.00

Dutch Central Bureau

From the household budget survey of 1980 of the Dutch Central Bureau of Statistics, J. S. Cramer obtained the following logit model based on a sample of 2820 households. (The results given here are based on the method of maximum likelihood and are after the third iteration.)** The purpose of the logit model was to determine car ownership as a function of (logarithm of) income. Car ownership was a binary variable: Y = 1 if a household owns a car, zero otherwise.

 

Income. The χ2 measures the goodness of fit of the model.

a. Interpret the estimated logit model.

b. From the estimated logit model, how would you obtain the expression for the probability of car ownership?

c. What is the probability that a household with an income of 20,000 will own a car? And at an income level of 25,000? What is the rate of change of probability at the income level of 20,000?

d. Comment on the statistical significance of the estimated logit model. Establish Eq. (15.2.8).

Answers

Maurice Tutor
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Status NEW Posted 03 Feb 2018 07:02 PM My Price 8.00

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