Explain the logic behind the use of latent variables in order to explain observed variables.
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Q11: Which of the following is a characteristic
Q12: The cumulative distribution function
A) Tells us how
Q13: When is a probit model preferred to
Q14: Which of the following is false?
A) Fitted
Q15: Which of the following is not a
Q16: Which of the following is a drawback
Q17: Write down the equation for a probit
Q18: Write down the equation for a logit
Q19: List and explain the benefits and drawbacks
Q21: Explain how we can interpret probit coefficients
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