| 1. | The probit model has been around longer than the logit model.
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| 2. | Ordered logit and ordered probit models are derived under this concept.
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| 3. | The coefficients obtained from the logit and probit model are fairly close.
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| 4. | The canonical specification for this relationship is a probit regression of the form
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| 5. | All the discussion above is mainly about the probit model.
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| 6. | In this case, the multinomial probit or multinomial logit technique is used.
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| 7. | Logistic regression and probit models are used when the dependent variable is binary.
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| 8. | Probit models offer an alternative to logistic regression for modeling categorical dependent variables.
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| 9. | Probit models are popular in social sciences like economics.
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| 10. | The probit model assumes that the error term follows a standard normal distribution.
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