QUANTITATIVE AND QUALITATIVE ANALYSIS IN ECONOMICS
PRACTICAL USE OF PANEL DATA, PROBIT AND LOGIT MODELS IN ECONOMY
Nastasja Stašević
Abstract: The main purpose of this paper is to show how panel, probit, and logit models can be used in the economic analysis. The first part of the paper focuses on panel data model, which possesses a cross-sectional and time dimension. This type of data provides information over time for individuals. Panel data example has been completed with two software, Gretl, and RStudio. The second part focuses on probit and logit model, and the differences between them. These models are mostly used in research such as buying product – yes or no. Probit and Logit analysis has been completed with RStudio software.
Keywords: panel data analysis, probit and logit model, time series, entrepreneurs.
Published: p. 265-272
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