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:
“Crushed to earth and rising again is an author’s gymnastic. Once he fails to struggle to his feet and grab his pen, he will contemplate a fact he should never permit himself to face: that in all probability books have been written, are being written, will be written, better than anything he has done, is doing, or will do.”
—Fannie Hurst (1889–1968)
“Socrates, who was a perfect model in all great qualities, ... hit on a body and face so ugly and so incongruous with the beauty of his soul, he who was so madly in love with beauty.”
—Michel de Montaigne (1533–1592)