Economics Homework Help
Economics Homework Help. Econometrics: If you know how to use a program called Stata, please help me.
Use probit model to answer the following questions:
- Are the self –employed less likely to have health insurance than wage earners? If so, is the difference large in a real –world sense? Is the difference statistically significant?
- The self-employment might systematically differ from wage earners in their age, education, and so forth. After you control for these other factors, are the self-employed less likely to have health insurance?
- Predict the probability of insurance for a self-employed white married man of 31 years old with family size 4, holding bachelor degree and living in the south region.
- How does health insurance status vary with age? Calculate the marginal impact of age on the insurance probability for the same individual as described in c).
- What is the method of estimation used to estimate probit model? What is a specific assumption underlying the estimation?
- Replicate the exercise using logit instead of probit model and comment the differences.
- What is a difference between probit and logit approachs?
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