Binary Outcomes in Decision Making Quiz

What type of variable is the outcome of interest in the examples provided?

What distinguishes regression with a binary dependent variable from regression with a continuous dependent variable?

What is the simplest model to use with binary dependent variables?

Which act led to the compilation of the Boston HMDA data?

What year do the mortgage applications in the Boston, Massachusetts, area data relate to?

Which type of data are the Boston HMDA data described as?

What are the two most important disadvantages of the linear probability model?

What is the primary interest in a binary response model?

In a binary response model, if x represents explanatory variables, what does y typically denote?

How do more sophisticated binary response models overcome the limitations of the linear probability model?

Which set of explanatory variables might be included in x when analyzing employment status in a binary response model?