To Measure the Fit of the Probit Model, You Should $R ^ { 2 }$

question 36

Short Answer

To measure the fit of the probit model, you should: a. use the regression $R ^ { 2 }$ .
b. plot the predicted values and see how closely they match the actuals.
c. use the log of the likelihood function and compare it to the value of the likelihood function.
d. use the fraction correctly predicted or the pseudo $R ^ { 2 }$ .

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Definitions:

Foot-In-The-Door Phenomenon

A psychological tactic where agreeing to a small request increases the likelihood of agreeing to a larger request later.

Milgram Experiments

The Milgram Experiments were a series of psychological experiments conducted by Stanley Milgram in the 1960s to measure the willingness of participants to obey an authority figure who instructed them to perform acts conflicting with their personal conscience.

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, typically showing improved performance on tasks.

Fishing Reel

A device attached to a fishing rod used to wind and stow the fishing line, facilitating casting and retrieval of the lure or bait.