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*Lstar and Xstar are from Table 15.5. ELstar is the estimated Lstar. Logit is the unweighted logit. Probability is the estimated probability of owning a house. Change in probability is the change per unit change in income. Computed from P2 P(1 — P) = 0.07862 P(1 — P).

*Lstar and Xstar are from Table 15.5. ELstar is the estimated Lstar. Logit is the unweighted logit. Probability is the estimated probability of owning a house. Change in probability is the change per unit change in income. Computed from P2 P(1 — P) = 0.07862 P(1 — P).

Gujarati: Basic I III. Topics in Econometrics I 15. Qualitative Response I I © The McGraw-Hill

Econometrics, Fourth Regression Models Companies, 2004

Edition

CHAPTER FIFTEEN: QUALITATIVE RESPONSE REGRESSION MODELS 603

Therefore,

Solving this for

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