SOLVED: The table below presents the results of estimating a Linear Regression (LR) model, a Logit model, and a Probit model for a binary dependent variable, y, using the explanatory variables x, m, m x, and a constant. Here m is a dummy (binary) variable, and x is continuously distributed.(1) (2) Regressors LPM Logit x 0.468 3.772(3) Probit 2.192m 0.292 (0.0393)m x -0.0172 0.0465constant 0.412 (0.0322)2.467 1.436 (0.344) (0.191) 0.487 0.258 (0.817) (0.434) -0.645-0.375 (0.240) (0.137) 380 380(0

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What's the difference between probit and logit model? - TimesMojo

in the probit model p r left parenthesis y equals 1 vertical line x right parenthesis equals capital phi left parenthesis b subscript 0 plus b subscript 1 x right parenthesis a the bs do not 08754

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6. Report for both the logit and probit models the average, minimum, and maximum predicted probability, as well as the predicted probability of loan approval at the mean of the independent variables and at their minimum and maximum values. Are the two types the same? Why or why not? How do they differ between the two models and with those obtained by the LPM?7. Test for the hypothesis that neither gender nor race nor marital status matter for loan approval using all three models.