Four hundred driver's license applicants were randomly selected and asked whether they passed their driving test (Pass; = 1) or failed their test (Pass; = 0); data werealso located on their gender (Male; = 1 if male and = 0 if female) and their years of driving experience (Experience;, in years). The following table summarizes theresults from several probit, logit and linear probability, models.Dependent variable: Pass.Regression ModelRegressorProbitLogit(2)LPMProbitProbitLogit(5)LPM(1)(3)(4)(6)(7)0.0330.0440.0080.043Experience(0.157)- 0.171(0.263)- 0.019(0.019)0.805(0.202)(0.007)(0.011)(0.002)- 0.627- 0.073(0.035)- 0.339Male(0.162)(0.304)Male x Experience0.7171.0560.7771.2882.1920.903Constant(0.128)(0.223)(0.037)(0.125)(0.245)(0.024)Use the results in columns (4) through (6) to answer the following questions.Compute the estimated probability of passing the test for men and for women.ProbitLogit(5)LPMGroup(4)(6)Men0.830Women0.900(Round your responses to three decimal places)

Answered: Image /qna-images/answer/3403a806-b860-48e9-b0f1-790eecdd3784.jpg

Four hundred driver's license applicants were randomly selected and asked whether they passed their driving test (Pass; = 1) or failed their test (Pass; = 0); data we also located on their gender (Male; = 1 if male and = 0 if female) and their years of driving experience (Experience;, in years). The following table summarizes the results from several probit, logit and linear probability models. Dependent variable: Pass. Regression Model Regressor Logit (2) Logit (5) Probit LPM Probit LPM Probit (1) (3) (4) (6) (7) 0.033 0.044 0.008 0.043 Experience (0.007) (0.011) (0.002) (0.157) - 0.171 (0.263) - 0.019 (0.019) 0.805 (0.024) (0.202) - 0.339 - 0.627 -0.073 Male (0.162) (0.304) (0.035) Male x Experience 0.717 1.056 0.777 1.288 2.192 0.903 Constant (0.128) (0.223) (0.037) (0.125) (0.245) Use the results in columns (4) through (6) to answer the following questions. Compute the estimated probability of passing the test for men and for women. Probit (4) Logit (5) LPM Group (6) Men 0.830 Women 0.900 (Round your responses to three decimal places)

Four hundred driver's license applicants were randomly selected and asked whether they passed their driving test (Pass; = 1) or failed their test (Pass; = 0); data we also located on their gender (Male; = 1 if male and = 0 if female) and their years of driving experience (Experience;, in years). The following table summarizes the results from several probit, logit and linear probability models. Dependent variable: Pass. Regression Model Regressor Logit (2) Logit (5) Probit LPM Probit LPM Probit (1) (3) (4) (6) (7) 0.033 0.044 0.008 0.043 Experience (0.007) (0.011) (0.002) (0.157) - 0.171 (0.263) - 0.019 (0.019) 0.805 (0.024) (0.202) - 0.339 - 0.627 -0.073 Male (0.162) (0.304) (0.035) Male x Experience 0.717 1.056 0.777 1.288 2.192 0.903 Constant (0.128) (0.223) (0.037) (0.125) (0.245) Use the results in columns (4) through (6) to answer the following questions. Compute the estimated probability of passing the test for men and for women. Probit (4) Logit (5) LPM Group (6) Men 0.830 Women 0.900 (Round your responses to three decimal places)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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