Output: Sample Selection model (Type II Tobit model)

*****Slow convergence to the posterior distribution*****

Generate 104,000 samples and discard first 4,000 samples.

Further, use every 100^th sample out of 100,000 samples

(Total # of samples for the statistical inference reduces to 1,000.)

Posterior means, posterior standard deviations and 95% credible intervals (Inference->Samples->stats)

Sample path (history)

Posterior probability densities (Inference->Samples->density)

(Further, right click on the figure->Margins-> Special…->Smooth -> change from 0.2 to 0.1-> apply all)

Sample autocorrelation function (Inference->Samples->auto corr)

Running quantile plot (Inference->Samples->quantiles)

Scatter plots (Inference->Correlations…)

(other plots are omitted)