QUESTION 1Questions 1-4 are based on the following scenario:700 income-earning individuals from a district were randomly selected and asked whether they were employed by the government (Gov = 1) or failed their entrance test (Gov = 0); data were also collected ontheir gender (Male = 1) if male and = 0 if female) and their years of schooling (Schooling, in years). The following table summarizes several estimated models. (Standard errors are in parentheses).Dependent Variable: GovLinearLinearProbitLogitProbabilityProbitLogitProbabilityProbit(1)(2)(3)(4)(5)(6)(7)Schooling0.2720.5510.0350.548(0.029)(0.062)(0.003)(0.091)Male-0.242-0.455-0.0504.352(0.125)(0.234)(0.025)(1.291)Male x Schooling-344(0.096)-4.107(0.358)Constant-8.146-0.172-1.027-1.7170.152-7.702(0.800)(0.027)(0.098)(0.179)(0.021)(1.238)Choose the correct statement:O a. The large difference between the estimates in column (1) and the ones in column (2) implies that predicted probabilities would be highly sensitive to whether the Logit model is employed or the Probitmodel is employed.O b. Column (1) suggests that the government would hire a job candidate with 16 years of education with 24.5% probability, i.e., 0.245 = 0.272 X 16 - 4.107.O C. Column (2) suggests that the government would hire a job candidate with 16 years of education with 67.0% probability, i.e., 0.670 = 0.551 X 16 - 8.146.O d. Column (3) suggests that the government would hire a job candidate with 16 years of education with 38.8% probability, i.e., 0.388 = 0.035 X 16 - 0.172.O e. Column (4) suggests that the government would not hire anyone because the estimated coefficients are all negative. QUESTION 3Continue to use the information from Question 1.Taylor Swift is a woman with 16 years of schooling. Predict the probability that the government will employ her using the estimated Probit model with the interaction term of the gender dummy and years ofschooling. Report your answer (a value between 0 and 1) to two decimal places. You can use any of pnorm in R or the z-tables in the Quizzes folder.

Here, we are given the output of a regression equation, with, (i) probit model , (ii) logit model…

QUESTION 3 Continue to use the information from Question 1. Taylor Swift is a woman with 16 years of schooling. Predict the probability that the government will employ her using the estimated Probit model with the interaction term of the gender dummy and years of schooling. Report your answer (a value between 0 and 1) to two decimal places. You can use any of pnorm in R or the z-tables in the Quizzes folder.

QUESTION 3 Continue to use the information from Question 1. Taylor Swift is a woman with 16 years of schooling. Predict the probability that the government will employ her using the estimated Probit model with the interaction term of the gender dummy and years of schooling. Report your answer (a value between 0 and 1) to two decimal places. You can use any of pnorm in R or the z-tables in the Quizzes folder.

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 31EQ

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