total of 946. The number of valid returned surveys was 169, for a response rate of 17.8%. The
first surveys to be returned were received on July 23rd and the majority were received by the 20th
of August.
Analysis
Since the respondents to the survey were asked to give a "Yes/No" response to a specific
dollar amount to implement the program, as represented by Equation 8 of the theoretical model,
the probability of them answering "Yes" to a certain amount is statistically calculated using the
logit model (Hanemann, 1984). The relationship is presented as:
Probability Yes = 1 { 1+exp[Bo Bi($X)]}-1 (9)
Where B's are coefficients estimated using logit analysis, $X is a monetary amount the
household is asked to pay. The coefficients must include the bid amount, and may also include
socio-economic information and responses to attitude questions (Loomis, 2000).
Different specifications of the logit model are possible. The model present here includes
several theoretically important socio-economic variables as well questions concerning opinions
and interactions with the Ichetucknee. The logistic regression was performed using STATA
statistical program, the results of which will be discussed in Chapter 4.