Suppose you are interested in explaining the probability of Switching Jobs as a function of Salary,Experience,Home Ownership,and Number of Children.
a)Write out the regression model that you would want to estimate.Explain the dependent variable in detail.
b)Could you estimate the above model by OLS? What would you call such a model? Are there any potential shortcomings of estimating such a model? If so,what are they? Explain.
c)In reference to your answer in (b),is there an alternative estimator that is more preferred? If so,what is it? Why is it preferred to the model in (b)? Explain.

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The Answer of Suppose you are interested in explaining the probability of Switching Jobs as a function of Salary,Experience,Home Ownership,and Number of Children.
a)Write out the regression model that you would want to estimate.Explain the dependent variable in detail.
b)Could you estimate the above model by OLS? What would you call such a model? Are there any potential shortcomings of estimating such a model? If so,what are they? Explain.
c)In reference to your answer in (b),is there an alternative estimator that is more preferred? If so,what is it? Why is it preferred to the model in (b)? Explain.

Suppose You Are Interested in Explaining the Probability of Switching