问题如下：
8. Should Honoré have estimated the models in Exhibit 1 and Exhibit 2 using probit or logit models instead of traditional regression analysis?
选项：
A. Both
should be estimated with probit or logit models.
B. Neither
should be estimated with probit or logit models.
C. Only
the analysis in Exhibit 1 should be done with probit or logit models.
解释：
B is correct. Probit and logit models are used for models with qualitative dependent variables, such as models in which the dependent variable can have one of two discreet outcomes (i.e., 0 or 1). The analysis in the two exhibits are explaining security returns, which are continuous (not 0 or 1) variables.
Exhibits 1的dummy variable 不是选0和1吗？为什么不能选，谢谢
