When the Dependent Variable Is Binary,the Logit Model Can Also

question 55

True/False

When the dependent variable is binary,the logit model can also be used instead of two-group discriminant analysis.

---

Definitions:

Income

Income earned regularly from work or investments.

Budget Constraint

A limit on the consumption choices of individuals or firms based on their income and the prices of goods and services.

Bell Peppers

A variety of large, sweet pepper that comes in different colors, including red, yellow, green, and orange, and is used in cuisine worldwide.

Budget Constraint

The constraint on the selection of products and services available for a consumer to buy, determined by their earnings and the prices of these commodities.