Table 7 Diagnostic statistics tests
Diagnostic statistics tests | \({X}^{2}\)(p values) | Results |
|---|---|---|
Breusch Godfrey LM test | 0.2314 | No problem of serial correlations |
Breusch–Pagan–Godfrey test | 0.2115 | No problem of heteroscedasticity |
ARCH test | 0.5135 | No problem of heteroscedasticity |
Ramsey RESET test | 0.4282 | Model is specified correctly |
Jarque–Bera Test | 0.1317 | Estimated residual are normal |