Comparison of goodness-of-fit measures in probit regression model

YAZICI B., ALPU Ö., Yang Y.

COMMUNICATIONS IN STATISTICS-SIMULATION AND COMPUTATION, vol.36, no.5, pp.1061-1073, 2007 (SCI-Expanded) identifier identifier

  • Publication Type: Article / Article
  • Volume: 36 Issue: 5
  • Publication Date: 2007
  • Doi Number: 10.1080/03610910701539898
  • Journal Name: COMMUNICATIONS IN STATISTICS-SIMULATION AND COMPUTATION
  • Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Scopus
  • Page Numbers: pp.1061-1073
  • Keywords: binary choice model, goodness-of-fit (GOF), probit regression model, pseudo-R-2, DEPENDENT-VARIABLES, DEMAND
  • Anadolu University Affiliated: Yes

Abstract

This article examines several goodness-of-fit measures in the binary probit regression model. Existing pseudo-R-2 measures are reviewed, two modified and one new pseudo-R-2 measure are proposed. For the probit regression model, empirical comparisons are made for different goodness-of-fit measures with the squared sample correlation coefficient of the observed response and the predicted probabilities. As an illustration, the goodness-of-fit measures are applied to a "paid labor force" data set.