Mastering Multinomial Logit Model in SAS: A Step-by-Step Guide

What is the significance of odds ratios less than one?

Odds ratios less than one indicate a negative relationship between the predictor variable and the outcome variable.

How does specifying a base outcome help in the analysis?

Specifying a base outcome allows for comparison of odds ratios between different categories.

Why are coefficients for the reference category normalized to zero?

Coefficients for the reference category are normalized to zero to provide a baseline for comparison with other categories.

How is income used as a variable in the analysis?

Income is considered as a variable in the analysis to understand its impact on the choice of fishing modes.

What are the key factors influencing the likelihood of choosing a fishing mode?

Factors such as price, catch rate, and individual preferences significantly influence the likelihood of choosing a fishing mode.