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Data analysis with ordinal and interval dependent variables: examples from a study of real estate salespeople

Author

Listed:
  • G. Martin Izzo

    (Mike Cottrell School of Business North Georgia College & State University Dahlonega, Georgia USA)

  • Barry E. Langford

    (Florida Gulf Coast University Fort Myers, Florida USA)

Abstract

This paper re-examines the problems of estimating the parameters of an underlying linear model using survey response data in which the dependent variables are in discrete categories of ascending order (ordinal, as distinct from numerical) or, where they are observed to fall into certain groups on a continuous scale (interval), where the actual values remain unobserved. An ordered probit model is discussed as an appropriate framework for statistical analysis for ordinal dependent variables. Next, a maximum likelihood estimator (MLE) derived from grouped data regression for interval dependent variable is discussed. Using LIMDEP, a packaged statistical program, survey data from an earlier manuscript are analyzed and the findings presented.

Suggested Citation

  • G. Martin Izzo & Barry E. Langford, 2008. "Data analysis with ordinal and interval dependent variables: examples from a study of real estate salespeople," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 1, pages 103-116, December.
    • Handle: RePEc:aic:revebs:y:2008:v:1:p:103-116
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    References listed on IDEAS

    as
    1. G. Stacy Sirmans & Philip G. Swicegood, 1997. "Determinants of Real Estate Licensee Income," Journal of Real Estate Research, American Real Estate Society, vol. 14(2), pages 137-154.
    2. Mark B. Stewart, 1983. "On Least Squares Estimation when the Dependent Variable is Grouped," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 50(4), pages 737-753.
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    4. Marvin L. Wolverton & Donald Epley, 1999. "Structural Analysis of U.S. Appraiser Income," Journal of Real Estate Research, American Real Estate Society, vol. 18(2), pages 377-393.
    5. G. Stacy Sirmans & Philip G. Swicegood, 2000. "Determining Real Estate Licensee Income," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 189-204.
    6. Michael A. Abelson & K. Michele Kacmar & Ellen F. Jackofsky, 1990. "Factors Influencing Real Estate Brokerage Sales Staff Performance," Journal of Real Estate Research, American Real Estate Society, vol. 5(2), pages 265-276.
    7. Michael Glower & Patric H. Hendershott, 1988. "The Determinants of REALTOR Income," Journal of Real Estate Research, American Real Estate Society, vol. 3(2), pages 53-68.
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