Discussion
Logit and Probit models are used to analyze data that are :
Answer: A
Logit and probit models are used for binary data.
They model a dependent variable that takes two values, such as 1 if a household owns a house and 0 if not. The probability of the outcome is modelled through a cumulative distribution function, the logistic for logit and the standard normal for probit, which keeps predicted probabilities between 0 and 1, unlike the linear probability model.
Continuous dependent variables call for ordinary regression, missing data for imputation methods, and these models are not tied to business cycles.
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