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probits
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Definitions of probits in various dictionaries:
noun - a unit of statistical probability
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In statistics, a probit model is a type of regression where the dependent variable can take only two values, for example married or not married. The word is a portmanteau, coming from probability + unit. The purpose of the model is to estimate the probability that an observation with particular characteristics will fall into a specific one of the categories; moreover, classifying observations based on their predicted probabilities is a type of binary classification model. * A probit model is a popular specification for an ordinal or a binary response model. As such it treats the same set of problems as does logistic regression using similar techniques. The probit model, which employs a probit link function, is most often estimated using the standard maximum likelihood procedure, such an estimation being called a probit regression. * Probit models were introduced by Chester Bliss in 1934; a fast method for computing maximum likelihood estimates for them was proposed by Ronald Fisher as an appendix to Bliss' work in 1935. |