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What is Generalized Linear Models in Business Analytics about?
Chapter 5 discusses Generalized Linear Models, focusing on situations where the outcome variable is not continuous, such as binary and categorical outcomes. It introduces the linear probability model, latent outcomes, and alternative models like probit and logit for binary outcomes, emphasizing the use of Maximum Likelihood Estimation for inference. The chapter concludes with applications in consumer choice analysis and the necessity of additional assumptions for proper model estimation.
- Author
- daryn.imashev.bu
- Language
- EN