Tobit regression - measuring the students' academic aptitude
Let us measure the academic aptitude of a student on a scale of 200-800. This measurement is based on the model using reading and math scores. The nature of the program in which the student has been enrolled is also to be taken into consideration. There are three types of programs: academic, general, and vocational. The problem is that some students may answer all the questions on the academic aptitude test correctly and score 800 even though it is likely that these students are not truly equal in aptitude. This may be true for all the students who may answer all the questions incorrectly and score 200.
In order to complete this recipe we shall be using a student's dataset. ...