Thank you, no one explained it so clearly, step by step, the previous step making it easier to understand the next step. Really got the Understanding of what is going on and not simply learned the formulas
I don't know pure-stats books well enough to compare them, but for introductory econometricians I'd say Wooldridge for the technical side, or Bailey for the intuitive side.
Thank you for the explanation. So for the Logit, the 0.53 is in the index. As its a curve between 0-1. The change of one unit of x will vary with 4 units of x. How would one calculate that?
@@NickHuntingtonKlein Hi thanks for the reply. Actually no specific portion of the video, just a general question. As logit is nonlinear, I was curious how one measures changes in x's. Like let say if you ran a logit regression and you got 0.53 for your caffeine coefficient [one could have other independent variables, but those are held constant] Your dependent variable is binary, sleep/awake. How would one measure the effect of a change of caffeine[1 cup, 3, cups, x cups]? Thanks again
@@emptyxnes ah I see. That's what marginal effects calculations are for. I can't remember if I cover them in this video or the next one but I have a video on it.
Thank you, no one explained it so clearly, step by step, the previous step making it easier to understand the next step. Really got the Understanding of what is going on and not simply learned the formulas
This was a really phenomenal video, great job!
For someone who has basic knowledge in economics, you made it really easy to understand! Thank you so much :)
Really useful! Thanky you so much Nick
Great explanation!
Thank you for the great videos
Hi Nick,
First of all thank you for these great courses. if you had to recommend one great statistics textbook, which one would you recommend ?
I don't know pure-stats books well enough to compare them, but for introductory econometricians I'd say Wooldridge for the technical side, or Bailey for the intuitive side.
@@NickHuntingtonKlein thanks for your quick answer.
Thank you for the explanation. So for the Logit, the 0.53 is in the index. As its a curve between 0-1. The change of one unit of x will vary with 4 units of x. How would one calculate that?
I'm not sure I quite follow - which part of the video are you referring to?
@@NickHuntingtonKlein Hi thanks for the reply. Actually no specific portion of the video, just a general question. As logit is nonlinear, I was curious how one measures changes in x's. Like let say if you ran a logit regression and you got 0.53 for your caffeine coefficient [one could have other independent variables, but those are held constant] Your dependent variable is binary, sleep/awake. How would one measure the effect of a change of caffeine[1 cup, 3, cups, x cups]? Thanks again
@@emptyxnes ah I see. That's what marginal effects calculations are for. I can't remember if I cover them in this video or the next one but I have a video on it.
@@NickHuntingtonKlein You did :) thanks
could you please share the slides as well?
github.com/NickCH-K/EconometricsSlides
@@NickHuntingtonKlein Thanks a lot, wasn't expecting such a quick response!