Using a probit model on the willingness to avail a loan product example above, the resulting regression equation is: Z = 91.6 – 0.009HouseholdIncome, what is the probability of getting a 1 when Household income is equal to 10,000? Using a logit model on the same problem, the Z value when household income is equal to 10,000 is Z = 2.944439. what is the corresponding probability of availing the loan?

Using a probit model on the willingness to avail a loan product example above, the resulting regression equation is: Z = 91.6 – 0.009HouseholdIncome, what is the probability of getting a 1 when Household income is equal to 10,000? Using a logit model on the same problem, the Z value when household income is equal to 10,000 is Z = 2.944439. what is the corresponding probability of availing the loan?

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter5: A Survey Of Other Common Functions

Section5.3: Modeling Data With Power Functions

Problem 3TU

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