probit model

Synonyms

probit

Definition

In statistics, a probit model is a type of regression where the dependent variable can only take two values, for example married or not married. The name is from probability + unit. The purpose of the model is to estimate the probability that an observation with particular characteristics will fall into a specific one of the categories; moreover, if estimated probabilities greater than 1/2 are treated as classifying an observation into a predicted category, the probit model is a type of binary classification model.

Broader terms

discrete choice models