Table 6 Multinomial Logit Model for Newest Vehicle Owned

Table 6
Multinomial Logit Model for Newest Vehicle Owned

Dependent variable: newest vehicle owned   Beta SE t-stat P-value 
 Constant  SUV –3.137 0.096 –32.6 0.000
Pickup –1.258 0.067 –18.9 0.000
Minivan –3.515 0.093 –38.0 0.000
Vehicle price/household income   –0.660 0.074 –9.0 0.000
 Household size  SUV 0.242 0.020 11.9 0.000
Pickup –0.058 0.016 –3.5 0.000
Minivan 0.542 0.018 30.6 0.000
 Population density  SUV –2.81E-05 4.19E-06 –6.7 0.000
Pickup –6.91E-05 4.21E-06 –16.4 0.000
Minivan –3.93E-05 4.25E-06 –9.3 0.000
Income per household member  SUV 1.78E-05 1.58E-06 11.2 0.000
Pickup –1.55E-05 1.58E-06 –9.8 0.000
Minivan 1.15E-06 2.08E-06 0.6 0.58
Number of vehicles already owned  SUV 0.206 0.04 5.9 0.000
Pickup 0.193 0.03 6.9 0.000
Minivan –0.046 0.04 –1.3 0.209
Number of cars already owned  SUV 0.016 0.04 0.4 0.696
Pickup 0.362 0.03 10.8 0.000
Minivan 0.135 0.04 3.2 0.001

 

Log-likelihood function  
Constant only –28,725.37
Convergence –27,080.58
Pseudo-R2 0.057

Number of observations: 30,949 households
Equation for model form