In the Probit Regression,the Coefficient β1 Indicates

question 39

Multiple Choice

In the probit regression,the coefficient β1 indicates

• A)the change in the probability of Y = 1 given a unit change in X
• B)the change in the probability of Y = 1 given a percent change in X
• C)the change in the z- value associated with a unit change in X
• D)none of the above

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Definitions:

Equilibrium Price

The cost point where the amount of a product sought by buyers matches the amount made available by sellers, leading to a state of equilibrium in the market.

Milk Producers

Entities or individuals engaged in the production and supply of milk.

Coffee Shops

Retail establishments that primarily sell coffee, along with other beverages and light snacks, often serving as social hubs in communities.

Normal Good

A type of good for which demand increases when consumer income increases, and decreases when consumer income decreases, assuming all other factors remain constant.