Reliable with precedent studies, the logit and probit are similar under the different conditions. Hence, a selection between these two may not be significant (except in computational cost). However, the selection among logit, probit model, Linear Discriminant Analysis and Ordinary least squares (OLS) is still not uncomplicated. Therefore, the study has supposed to first carry out different preliminary data to decide the statistical properties of the forecaster variables. Possibly, part of the data might be analyzed by these techniques to decide which one is most suitable. Otherwise, the study could change the model to comply with the assumptions of a particular technique. From the results, the Logit and Probit Model perform the better results in terms of fulfill the assumptions. If in the case of assumptions are fulfill in Discriminant analysis yields better results than logit and probit model.