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