Suppose that the following binary dependent models. The model is based on the driving test of the 400 randomly selected driver’s license applicants. Y=1 if passed the test, or 0 otherwise, and X1 is years of experiences, X2 is the years of educations. Logit: P(Y=1/X) = F(0.563+ 0.040X1+ 0.057X2)What are the probabilities of passing the test for a person with 10 years of experiences and 10 years of educations in each model?

The objective of the question is to calculate the probability of passing the driving test for a…

Answered: Suppose that the following binary…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose that the following binary dependent models. The model is based on the driving test of the 400 randomly selected driver’s license applicants. Y=1 if passed the test, or 0 otherwise, and X₁ is years of experiences, X₂ is the years of educations.

Logit: P(Y=1/X) = F(0.563+ 0.040X₁+ 0.057X₂)

What are the probabilities of passing the test for a person with 10 years of experiences and 10 years of educations in each model?

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