Hello, I am new to running a Tobit Model on SAS. I have a dependent variable that is highly bunched at the value 0, and the independent variables that I am looking at include both continuous variables as well as discrete/categorical variables. Total observations = 260000+.
Which proc should I use? Can I use a method analogous to stepwise selection method that is popular for proc reg? If there are multiple procs, I would like your advice on the pros and cons for each, if possible.