In statistics, a linear probability model is a special case of a binomial regression model. Here the observed variable for each observation takes values which are either 0 or 1. The probability of observing a 0 or 1 in any one case is treated as depending on one or more explanatory variables. For the "linear probability model", this relationship is a particularly simple one, and allows the model to be fitted by simple linear regression.
Read more about Linear Probability Model: The Model
Famous quotes containing the words probability and/or model:
“Legends of prediction are common throughout the whole Household of Man. Gods speak, spirits speak, computers speak. Oracular ambiguity or statistical probability provides loopholes, and discrepancies are expunged by Faith.”
—Ursula K. Le Guin (b. 1929)
“When Titian was mixing brown madder,
His model was posed up a ladder.
Said Titian, “That position
Calls for coition,”
So he lept up the ladder and had her.”
—Anonymous.