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:
“Only in Britain could it be thought a defect to be “too clever by half.” The probability is that too many people are too stupid by three-quarters.”
—John Major (b. 1943)
“When you model yourself on people, you should try to resemble their good sides.”
—Molière [Jean Baptiste Poquelin] (1622–1673)