Suppose you are interested in explaining Student Evaluations of Teaching (which are calculated on the following 4-point scale: (1)Poor, (2)Fair, (3)Good,and (4)Excellent)in a sample of 15,239 college students and that using the multinomial logit you obtain the following coefficient estimates (standard errors in parentheses)
a)How should you interpret the estimated coefficient on Average GPA? Does this make economic sense? Explain.
b)How should you interpret the estimated coefficient on % Freshmen? Does this make economic sense? Explain.
c)Do these estimates provide all of the information that you desire? If not,how can you obtain that information? Explain.
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