4. You are working on a data set which contains the following variables for 753 women Average 0.56 20.12 Variable Descri
Posted: Sun Sep 05, 2021 5:19 pm
- 4 You Are Working On A Data Set Which Contains The Following Variables For 753 Women Average 0 56 20 12 Variable Descri 1 (143.71 KiB) Viewed 68 times
- 4 You Are Working On A Data Set Which Contains The Following Variables For 753 Women Average 0 56 20 12 Variable Descri 2 (12.18 KiB) Viewed 68 times
6, on the probability that the woman will be in the labour force.?
[13 MARKS]
(b) Explain why the logit regression had to be estimated by
maximum likelihood and provide some intuition to explain how this
technique differs from Ordinary Least Squares. [12 MARKS]
4. You are working on a data set which contains the following variables for 753 women Average 0.56 20.12 Variable Description inlf = 1 if in the labour force and zero otherwise nwifeinc household income earned by other household members annually (thousands of dollars) age age of the woman educ years of education completed exper years of experience in the labour market kidslt6 number of children aged less than 6 kidsge6 number of children aged 6 or older 42.5 12.3 10.6 0.23 1.35 A logit regression has been estimated to determine how the variables affect the decision for a woman to be in the labour force or not. Call: glm(formula = inlf “ nwifeinc + age + educ + exper + kidslt6 + kidsgeh, family = "binomial", data = mroz, maxit = 1000) Deviance Residuals: Min 1Q Median -2.5261 -0.9223 0.4489 Max 3Q 0.8978 2.3170 Coefficients: Estimate Std. Error z value Pr(>[z]) (Intercept) 0.837909 0.840933 0.996 0.3191 nwifeinc -0.020216 0.008264 -2.446 0.0144 * age -0.091088 0.014321 -6.361 2.01e-10 *** educ 0.226977 0.043295 5.243 1.58e-07 *** exper 0.119746 0.013626 8.788