Is it good to obtain a high value of LR Chi2 test after running an ordered probit regression on a large number of observations?
I ran the ordered probit regression, and I got the following results:
Number of obs = 2,135
LR chi2(19) = 1899.87
Prob > chi2 = 0.0000
Pseudo R2 = 0.2183
Log likelihood = -3401.9889
Additionally, each of the independent variables' level of significance was high.
I ran the ordered probit regression, and I got the following results:
Number of obs = 2,135
LR chi2(19) = 1899.87
Prob > chi2 = 0.0000
Pseudo R2 = 0.2183
Log likelihood = -3401.9889
Additionally, each of the independent variables' level of significance was high.

Comment