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st: prob>chi2 in probit results


From   nola l <nola0908@gmail.com>
To   statalist@hsphsun2.harvard.edu
Subject   st: prob>chi2 in probit results
Date   Tue, 29 Jan 2013 14:24:33 -0500

Hello,

Please pardon me if my question looks too silly.

I run probit in stata 12 and get following results:

. probit pgood age_kid sex gender parent white  totalkid Ed AGE

Iteration 0:   log likelihood = -148.89225
Iteration 1:   log likelihood = -145.96563
Iteration 2:   log likelihood =  -145.9561
Iteration 3:   log likelihood =  -145.9561

Probit regression                                 Number of obs   =        252
                                                           LR chi2(8)
    =       5.87
                                                           Prob > chi2
    =     0.6615
Log likelihood =  -145.9561                Pseudo R2       =     0.0197

Is it correct that as my results showed Prob > chi2     =     0.6615
which is greater than 0.05, then my model is not a good model and I
could not really use it?

Is it correct that in order to have a acceptable model, I have to get
prob>chi2 <0.1? if I got a much bigger number, can I use the model?
How should I interpret it?

Is there any other command that I can use to test my probit model is
usable or not?

Thanks in advance for any suggestion that you could give.

Best,
Nola
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