Depenent variable (Y): Range (0 to 10) (Not less than 0 and not more than 10) (range which i collected from field survey)
Independent Variables: X1 - Time (in sec) X2 - Distance (in meter) X3 - Number of Sections (per hour) X4 - Queue (if yes 1, otherwise 0) X5 - Area (m^2)
Can i use Tobit model to develop relation between Xi and Y? Or which model i can use or follow to develop relation between Y and Xi? Because X1, X2... X5 are in different units. And Y is in unit less (only ranges with respect to survey and also limited (1 to 10)).
Kindly Reply ASAP.
Thank you
I'm assuming that Y, although unit less, has a natural ordering to it.
There's no specific rule on when you MUST use a specific type of model. Really, you could even use a standard OLS regression (I would even recommend starting off with this, and then progress to more complicated models).
In general, If Y in continuous (i.e can take values 2.75 or 3.45), then, yes, you can use the Tobit model with 0 and 10 as the censoring points. If Y is discrete (takes values 0,1,2...), then you can also use an ordered probit or ordered logit regression.