Hello.

My logit regression for a sample of 182 has 4 significant explanatory variables. One of these variables is a dummy variable and the rest are regular ratio type data point variables.

Given this, how do I interpret my grand mean and intercept term? And how do I interpret the coefficient of the dummy variable? If I need to calculate my mean WTP, do I still use the formula:

-(b0+b2x2bar+b3x3bar+b4x4bar)/b1

where b0 is intercept term, b2 is the coefficient for the variable x2, x2bar is the sample mean of x2 and b1 is the coefficient of the bid value variable; without any caution against the fact that my regression includes a dummy regressor?

Thank you.

My logit regression for a sample of 182 has 4 significant explanatory variables. One of these variables is a dummy variable and the rest are regular ratio type data point variables.

Given this, how do I interpret my grand mean and intercept term? And how do I interpret the coefficient of the dummy variable? If I need to calculate my mean WTP, do I still use the formula:

-(b0+b2x2bar+b3x3bar+b4x4bar)/b1

where b0 is intercept term, b2 is the coefficient for the variable x2, x2bar is the sample mean of x2 and b1 is the coefficient of the bid value variable; without any caution against the fact that my regression includes a dummy regressor?

Thank you.

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