Economics Consider survey data to estimate the demand for a new safer pesticide to be used in farming. Some farmers demand zero at the going price, while some demand positive pounds per acre. Is this a good candidate for a Tobit model? Ā. No. There is no data censoring issue because farmers will use none of the new pesticide. B. Yes. There is no data censoring issue because all farmers will use the new pesticide. C. Yes. There is no data censoring here because some farmers simply find it optimal to use none of the new pesticide. D. No. There is a data censoring issue because all farmers will use the new pesticide.

Economics Consider survey data to estimate the demand for a new safer pesticide to be used in farming. Some farmers demand zero at the going price, while some demand positive pounds per acre. Is this a good candidate for a Tobit model? Ā. No. There is no data censoring issue because farmers will use none of the new pesticide. B. Yes. There is no data censoring issue because all farmers will use the new pesticide. C. Yes. There is no data censoring here because some farmers simply find it optimal to use none of the new pesticide. D. No. There is a data censoring issue because all farmers will use the new pesticide.

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Concept explainers

Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.

Question

Economics
Consider survey data to estimate the demand for a
new safer pesticide to be used in farming. Some
farmers demand zero at the going price, while
some demand positive pounds per acre. Is this a
good candidate for a Tobit model?
A. No. There is no data censoring issue because
farmers will use none of the new pesticide.
B. Yes. There is no data censoring issue because all
farmers will use the new pesticide.
C. Yes. There is no data censoring here because
some farmers simply find it optimal to use none of
the new pesticide.
D. No. There is a data censoring issue because all
farmers will use the new pesticide.

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