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leverages
2012 Nov 06
1
Ordered probit using clm2
...of cash and stock and y=2 if it is by cash only.
My independent variables are CollateralB, Cashavailable and Leverage.
This is the code I wrote:
> library(ordinal)
> datareg<-read.xls("C:/regression.xls")
> myprobit<-clm2(Newpercentagecash ~ CollateralB + CashavailableB + LEVERAGEB, data = datareg, link = "probit")
Error in clm2(Newpercentagecash ~ CollateralB + CashavailableB + LEVERAGEB, :
response needs to be a factor
I do not understand this error message. My "y" only equals 0, 1 or 2. I do not understand what a "factor" is.
Could you hel...