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st: RE: pseudo-r^2 in tobit regression


From   "Scott Merryman" <smerryman@kc.rr.com>
To   <statalist@hsphsun2.harvard.edu>
Subject   st: RE: pseudo-r^2 in tobit regression
Date   Sat, 26 Aug 2006 10:04:23 -0500

-search tobit r2- points to the FAQ: "Why is the pseudo-R2 for tobit negative or greater than one?" which states, in part,

"For many models, including tobit, the pseudo-R2 has no real meaning. 

This formula for pseudo-R2 is nothing more than a reworking of the model chi-squared, which is 2(L1 − L0). Thus even for discrete distributions where 0 ≤ pseudo R2 ≤ 1, it is still better to report the model chi-squared and its p-value—not the pseudo-R2."

Scott


> -----Original Message-----
> From: owner-statalist@hsphsun2.harvard.edu [mailto:owner-
> statalist@hsphsun2.harvard.edu] On Behalf Of bill brown
> Sent: Saturday, August 26, 2006 8:04 AM
> To: statalist@hsphsun2.harvard.edu
> Subject: st: pseudo-r^2 in tobit regression
> 
> Dear all,
> 
> I checked the manual of stata but i cannot understand how we interprete
> pseudo-R^2 for tobit regression. For example I found a pseudo-R^2 for
> cross
> sectional tobit regression equal to 12%.What does this mean?Can anyone
> help
> me?
> 
> Thank you,
> Bill
> 



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