Formulate a question about the advanced analyses discussed in this lesson. This
ID: 360350 • Letter: F
Question
Formulate a question about the advanced analyses discussed in this lesson. This can be any type of question related to any type model mentioned in this or the previous lesson. Post your question. In addition, you need to provide an answer to at least one of your classmates.
Some examples of questions can be the following:
Why is it so difficult to estimate a multinomial probit model?
Which measure of R Square should I use when evaluating the multinomial probit model?
What is the difference between a count model and a ordered regression model?
Why does SPSS use a Wald test instead of a t-test to test for the significance of the model parameters?
What model should I use if I have data on 1,000 respondents' willingness-to-pay to enter the Metropolitan Museum of Art?
Explanation / Answer
Question=Does a high R-Square signify a ‘poor fit’ or does it signify a ‘good fit’ for the line of regression on a scatter plotting?
Ans =Generally, the higher R-squared is considered a good fit. But, there are many different kinds of coefficients of correlation & each is suitable under diverse conditions.