This video is taken from a course by , namely "Corporate Dividend Determinants with Tobit Modelling". The course can be found for free here: "Censored models, such as the Tobit Model we will be dealing with, are widely used in economics, medicine and other fields. These models are typically used when the dependent variable, y, is "censored", that is, not observable beyond a certain level. For example, in our case, we cannot observe negative dividends and so dividend yield data is censored below 0%. In the following video I will talk about this idea more in depth and will use graphs to expalin this concept."