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Assume that we estimated a Probit model to predict whether an actor will appear in the next James Bond movie. In the table below
Assume that we estimated a Probit model to predict whether an actor will appear in the next James Bond movie. In the table below you can find the probabilities given by the estimated probit model. Given the probabilities, fill out the empty column in the table. That is, determine whether each applicant (agent) is predicted to appear (=1) or not (-0) in the movie. Explain your thought process. Just filling out the table does not yield any credit; the whole credit will be awarded based on the explanation. Then evaluate the prediction you derived (the column you filled). How successful is it? How do you come to that conclusion? Explain your thought process. agent 001 agent 002 agent 003 agent 004 agent 005 agent 006 agent 007 probit probability 0.41 0.51 0.61 0.71 0.81 0.91 0.96 appear or not (1 or 0) realization 0 0 0 0 0 1 0
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