Using the results in column (1): a. Does the probability of passing the test depend on Experience?
Question:
a. Does the probability of passing the test depend on Experience? Explain.
b. Matthew has 10 years of driving experience. What is the probability that he will pass the test?
c. Christopher is a new driver (zero years of experience). What is the probability that he will pass the test?
d. The sample included values of Experience between 0 and 40 years, and only four people in the sample had more than 30 years of driving experience. Jed is 95 years old and has been driving since he was 15. What is the model's prediction for the probability that Jed will pass the test? Do you think that this prediction is reliable? Why or why not?
Four hundred driver's license applicants were randomly selected and asked whether they passed their driving test (Passi = 1) or failed their test (Passi = 0); data were also collected on their gender (Malei = 1 if male and = 0 if female) and their years of driving experience (Experiencei in years). The following table summarizes several estimated models.
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Related Book For
Introduction to Econometrics
ISBN: 978-0133595420
3rd edition
Authors: James H. Stock, Mark W. Watson
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