Table 3 Overall model fitness, probabilities, and correlation matrix of market outlet choices from the MVP model.

Predicted probability

0.325

0.354

0.366

0.180

Joint probability of success

0.001

Joint probability of failure

0.195

Estimated correlation of market outlets

\(\rho_{21}\)

0.039

\(\rho_{31}\)

0.146

\(\rho_{41}\)

− 0.493***

\(\rho_{32}\)

− 0.379***

\(\rho_{42}\)

− 0.578***

\(\rho_{43}\)

− 0.298*

Likelihood ratio test of \(\rho_{21} = \rho_{31} = \rho_{41} = \rho_{32} = \rho_{42} = \rho_{43} = 0\)

χ²(6)= 35.467 and prob > χ²= 0.000***

Numbers of draws ((SML, #draws ) = 5

Numbers of observation = 154

Log likelihood = − 280.689

Wald χ² (44) = 109.47

Prob > Chi²= 0.000