Question: 2. For a logit or probit model, is the change in an explanatory variable x required to increase the probability that y = 1 from

2. For a logit or probit model, is the change in an explanatory variable x required to increase the probability that y = 1 from 0.4 to 0.5 greater than, less than, or equal to the change required to increase this probability from 0.8 to 0.9? Explain. Hint: It may help to draw the functions that represent p(y = 1). 3 pts I II. COMPUTER EXERCISES

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3. Tactical/strategic information.

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2. Value-oriented information and