Link Functions
There is a requirement that the modelling linking the probabilities μ to the explanatory variables should be of a form which only produces values in the range 0 to 1. Many models can be fitted into the form
Here η is an intermediate variable representing a linear combination, containing the regression parameters, of the explanatory variables. The function g is the cumulative distribution function (cdf) of some probability distribution. Usually this probability distribution has a range from minus infinity to plus infinity so that any finite value of η is transformed by the function g to a value inside the range 0 to 1.
In the case of logistic regression, the link function is the log of the odds ratio or logistic function. In the case of probit, the link is the cdf of the normal distribution. The linear probability model is not a proper binomial regression specification because predictions need not be in the range of zero to one, it is sometimes used for this type of data when the probability space is where interpretation occurs or when the analyst lacks sufficient sophistication to fit or calculate approximate linearizations of probabilities for interpretation.
Read more about this topic: Binomial Regression
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