For the home ownership data given in Table 15.1, the maximum likelihood estimates of the logit model
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Comment on these results, bearing in mind that all values of income above 16 (thousand dollars) correspond to Y = 1 and all values of income below 16 correspond to Y = 0. A priori, what would you expect in such a situation?
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Ρ = In -493.54 + 32.96 income 1– P, t= (-0.000008)(0.000008)
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These data will yield a perfect fit since all values of X above 16 ...View the full answer
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