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0,2] Constant, State 1 Log-likelihood value 2243 Constant, State 2 p-value (0.
It can be seen that two Log-Likelihood values are close to each other, thus proving the validity of the model.
That is, based on the log-likelihood value, the corresponding specifications in Tables 3 and 7 do not exhibit significant differences, whereas the corresponding specifications in Tables 2 and 6 do exhibit significant differences compared to those in Tables 3 and 7.
The relative log-likelihood values for the EGB2 and the Lomit or Burrit models are expected to be better than, or equal to, the log-likelihood values obtained for the logit or probit model.