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Exer 118 1111

The document summarizes the results of a logistic regression model analyzing factors that influence an individual's willingness to pay for a good. It finds that age, gender, and income are statistically significant predictors of willingness to pay, with gender having the largest impact. The model fits the data well with a pseudo R-squared of 0.0292.

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Samuel Jr. Samuela
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27 views3 pages

Exer 118 1111

The document summarizes the results of a logistic regression model analyzing factors that influence an individual's willingness to pay for a good. It finds that age, gender, and income are statistically significant predictors of willingness to pay, with gender having the largest impact. The model fits the data well with a pseudo R-squared of 0.0292.

Uploaded by

Samuel Jr. Samuela
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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summarize age gender income

Variable | Obs Mean Std. Dev. Min Max

-------------+--------------------------------------------------------

age | 0

gender | 0

income | 0

. *(6 variables, 312 observations pasted into data editor)

. summarize age gender income

Variable | Obs Mean Std. Dev. Min Max

-------------+--------------------------------------------------------

age | 0

gender | 0

income | 0

. logit wtpyn age gender income

no observations

r(2000);

. import excel "C:\Users\SAM\Downloads\WTP_DCsurvey.xlsx", sheet("Sheet1") firstrow c

> lear

. summarize age gender income

Variable | Obs Mean Std. Dev. Min Max

-------------+--------------------------------------------------------
age | 312 44.13462 12.38015 22 81

gender | 312 .5544872 .4978207 0 1

income | 312 8908.949 9262.802 2500 50000

. logit wtpyn bid age gender income

Iteration 0: log likelihood = -214.81738

Iteration 1: log likelihood = -208.54208

Iteration 2: log likelihood = -208.53596

Iteration 3: log likelihood = -208.53596

Logistic regression Number of obs = 312

LR chi2(4) = 12.56

Prob > chi2 = 0.0136

Log likelihood = -208.53596 Pseudo R2 = 0.0292

------------------------------------------------------------------------------

wtpyn | Coef. Std. Err. z P>|z| [95% Conf. Interval]

-------------+----------------------------------------------------------------

bid | -.0150896 .0072809 -2.07 0.038 -.0293599 -.0008194

age | .0052044 .0094494 0.55 0.582 -.0133161 .0237248

gender | -.6249191 .2356673 -2.65 0.008 -1.086819 -.1630197

income | 9.59e-06 .0000127 0.76 0.450 -.0000153 .0000345

_cons | .5722522 .4741719 1.21 0.227 -.3571077 1.501612

------------------------------------------------------------------------------

. mfx

Marginal effects after logit


y = Pr(wtpyn) (predict)

= .54989117

------------------------------------------------------------------------------

variable | dy/dx Std. Err. z P>|z| [ 95% C.I. ] X

---------+--------------------------------------------------------------------

bid | -.0037349 .0018 -2.07 0.038 -.007267 -.000203 22.5769

age | .0012881 .00234 0.55 0.582 -.003296 .005872 44.1346

gender*| -.1529137 .05652 -2.71 0.007 -.26369 -.042137 .554487

income | 2.37e-06 .00000 0.76 0.450 -3.8e-06 8.5e-06 8908.95

------------------------------------------------------------------------------

(*) dy/dx is for discrete change of dummy variable from 0 to 1

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