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Probit is a statistical method used for binary response modeling. It is often employed in econometrics and biostatistics to analyze the relationship between a binary response variable and a set of predictors. The probit model assumes that the relationship between the predictors and the binary response follows a cumulative normal distribution. The main output of probit analysis is the predicted probability of an event occurring given certain predictor values. Probit can be estimated using maximum likelihood estimation, where the parameters are estimated by finding values that maximize the likelihood function. This method provides valuable insights into how different factors influence the likelihood of an event occurring, making it a useful tool for researchers in various fields.

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