TOBIN

(Tobin's Tobit data)

Data:

   durable  age quant
1      0.0 57.7   236
2      0.7 50.9   283
3      0.0 48.5   207
4      0.0 41.7   220
5      0.0 47.7   238
6      0.0 59.8   216
7      0.0 44.3   284
8      3.7 45.1   221
9      0.0 51.7   275
10     3.0 50.0   269
11    10.4 46.8   207
12     0.0 58.0   249
13     0.0 58.9   246
14     0.0 40.0   277
15     1.5 34.1   231
16     0.0 39.9   219
17     0.0 33.4   240
18     3.5 48.1   266
19     6.1 46.6   214
20     0.0 53.1   251

Description:

Economists fit a parametric censored data model called the ‘tobit’. These data are from Tobin's original paper.

Format:

A data frame with 20 observations on the following 3 variables.

durable
- Durable goods purchase

age
- Age in years

quant
- Liquidity ratio (x 1000)

Source:

J Tobin (1958), Estimation of relationships for limited dependent variables. Econometrica 26, 24–36.

Model the durable goods purchase.