Table 4.
Predicting income from social class with the different approaches
| Method | Conditional | |||
|---|---|---|---|---|
| variances a | (low) | (medium) | (high) | |
| BCH | 26.65 (0.60) | 37.06 (1.35) | 44.70 (3.09) | |
| ML | Equal | 25.59 (0.50) | 33.22 (2.33) | 113.21 (23.59) |
| ML | Unequal | 20.63 (0.31) | 44.94 (1.06) | 65.67 (3.84) |
| LTB | 25.37 (0.90) | 36.49 (1.16) | 44.16 (2.62) | |
| Two‐step | Equal | 26.90 (0.58) | 34.86 (1.77) | 51.04 (6.48) |
| Two‐step | Unequal | 24.72 (0.67) | 36.54 (1.49) | 64.03 (3.78) |
| One‐step | LC model distorted | |||
| Variances BCH | 538.43 (47.68) | 713.64 (104.39) | 1,209.44 (252.19) | |
a
The standard errors of BCH estimates are calculated assuming unequal conditional variances. The one‐step estimates are distorted under both equal and unequal conditional variances.