Computes the probit transformation, including its inverse.
Syntax
PROBIT(X, Return_type)
X the real number for which we compute the transformation. X must be between zero and one (exclusive).
Return_type is a number that determines the type of return value: 1 (or missing)= Probit , 2= Inverse Probit.
RETURN_TYPE  NUMBER RETURNED 

1 or omitted  Probit Transform 
2  Inverse of Probit transform 
Remarks
 The probit link function is commonly used for parameters that lie in the unit interval.
 Numerical values of X close to 0 or 1 or out of range result in #VALUE! or #N/A.
 The probit function is defined as the inverse cumulative distribution function (CDF):
$$ y=\textit{Probit}(x)=\Phi^{1}(x)$$
And
$$ x=\textit{probit}^{1}(y)=\Phi(y)=\frac{1}{\sqrt{2\pi}}\int_{\infty}^{y}e^{\frac{Z^2}{2}}dz $$
Where:
 $x_{t}$ is the value of the input time series at time $t$
 $y_{t}$ is the transformed probit value at time $t$
 $\textit{probit}^{1}(y)$ is the inverse probit function
 The Probit function accepts a single value or an array of values for X.
Examples
Example 1:


Files Examples
References
 John H. Aldrich, Forrest D. Nelson; Linear Probability, Logit, and Probit Models; SAGE Publications, Inc; 1st Edition(Nov 01, 1984), ISBN: 0803921330
 Hamilton, J .D.; Time Series Analysis , Princeton University Press (1994), ISBN 0691042896
 Tsay, Ruey S.; Analysis of Financial Time Series John Wiley & SONS. (2005), ISBN 0471690740