To Measure the Fit of the Probit Model, You Should

question 38

Multiple Choice

To measure the fit of the probit model, you should:

• A)use the regression R².
• 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 R².

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Definitions:

Passive RFID

A type of Radio-Frequency Identification technology where the tag does not have its own power source and relies on the reader's electromagnetic field to communicate.

Active RFID

A type of RFID system where tags possess their own power source to transmit signals to RFID readers, enhancing range and reliability.

Internal Power Source

The origin or basis of an individual's or group's ability to influence or control events, actions, or others, stemming from within themselves or their position.

Evidence-Based Model

A decision-making process that relies on the use of data, facts, and empirical evidence as the foundation for making decisions.