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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