Probit model as a result of a latent variable model

This video explains how a Probit model can be found to occur naturally in a situation in which there is a latent (unobserved) variable, with a normally distributed error term.
Check out oxbridge-tutor.co.uk/undergrad... for course materials, and information regarding updates on each of the courses. Check out ben-lambert.com/econometrics-... for course materials, and information regarding updates on each of the courses. Quite excitingly (for me at least), I am about to publish a whole series of new videos on Bayesian statistics on youtube. See here for information: ben-lambert.com/bayesian/ Accompanying this series, there will be a book: www.amazon.co.uk/gp/product/1...

[@rav112112]

Thank you so much Ben, I don't know what I would do without your videos! They are extremely helpful.

[@SpartacanUsuals]

Hi, glad to hear it was helpful. All the best, Ben

[@yuquanchen9753]

I am actually an art student, but I am now studying agriculture economics. Econometric is the biggest trouble in my study. I searched all the website for the reference materials. I should say, your videos extremely enlighten me. I could understand these important concepts and principles about Model and their applicants. My appreciation is beyond words. Thank you very much!

[@lastua8562]

Interesting. How did agriculture economics turn out for you? I was interested in researching food production efficiency in vertical farming which is common in NL.

[@brianathomas1661]

Once again, Thank you Ben Lambert.

[@kyleredilla7377]

You SIR, are the f**king man.

[@BurgerLegacy]

Hi! :) Hey can you do more in depth videos on Probit and Tobit models? With Examples of how to apply them :)
Your videos are awesome man! Helped me with my metrics class :D

[@yunhong9010]

Thank you for your video. It really does help!

[@cherryblossom6982]

Best video for explanations ever.

[@omololagbade-oladiran4819]

Thanks a million.

[@JoseG0860]

THANK YOU!!!!!!!

[@donaldtan2872]

Thanks for saving my degree

[@suralemalemma4517]

Thank You and where could I get your presentation on Tobit Model ?

[@lastua8562]

Did you find it?

[@Marteenez_]

Why when the latent variable is positive y_i = 1. What is this choice based on?

[@ivonnerenteria7080]

Do you have a twitter account, Mr. Lambert?

[@arshiahashemi266]

There is an error in this video: the error term should be distributed as standard normal, whereas in the video its variance is sigma squared.

[@hellodata7654]

The error term shoul be normally distributed this is the regression assumtion, second the variance should be constant, in orther to have the best estimator, but standard normal has nothing to add for the model

[@lastua8562]

@@hellodata7654 agreed.