good evening stata users i am using tobit model and after running the model to test for normality and hetrosckedasticity assumption i run bctobit user written command, but the result shows that tobit model is not appropriate. besides this lm test is very large as compared to bootstrap critical value. is there any restriction on the use of bctobit or another test of the above listed assumption for tobit model?
any advice please?
any advice please?
Code:
LM test of Tobit specification Bootstrap critical values lm %10 %5 %1 50.433 3.99867 5.6515722 9.5729713
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