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Question 6. Logit/probit regression. You would like to analyse the determinants of house price exceeding $1 million. Thus, you generated a dummy variable price_1m' that

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Question 6. Logit/probit regression. You would like to analyse the determinants of house price exceeding $1 million. Thus, you generated a dummy variable "price_1m' that equals one if Price>1,000,000, otherwise zero. Then you regress it on 'Rooms, Bathroom', 'Car', and 'Landsize' using logit regression. The results from SAS are as follows: Analysis of Maximum Likelihood Estimates Standard Wald Parameter DF Estimate Error Chi-Square Pr > Chisq Intercept 1 -1.7015 0.1631 108.8940 <.0001 rooms bathroom car landsize a which of the factors increase likelihood house price exceeding decrease motivate your answer. are statistically significant at level b compute predicted probability that is greater than for following property: what plausible range in general points>

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