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Homework answers / question archive / Comment generally on the fit of the equation
Comment generally on the fit of the equation. b. How would you interpret the coefficient of —0.0051 attached to checking account variable? How would you rationalize the negative sign for this variable? c. What is the rationale behind introducing the age-squared and number of children-squared variables? Why is the sign negative in both cases? d. Assuming values of zero for all but the income variable, find out the conditional probability of a household whose income is $20,000 pur-chasing a durable good. e. Estimate the conditional probability of owning durable good(s),
