Question: 1. Suppose that a linear probability model yields a predicted value of Y that is equal to 13. Explain why this is nonsensical.
2. In Table 11.2 the estimated coefficient on black is 0.084 in column (1).0.688 in column (2), and 0.389 in column (3). In spite of these large differences, all three models yield similar estimates of the marginal effect of race on the probability of mortgage denial. How can this be?
