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Diagnostic test
| Test description | Problem | F-statistic | P-value | Decision |
|---|---|---|---|---|
| Breusch–Godfrey serial correlation LM test | Serial correlation | 1.301 | 0.273 | No serial correlation |
| Jarque–Bera | Normality | 1.524 | 0.354 | Residuals are normal distributed |
| Heteroskedasticity test: ARCH | Heteroskedasticity | 1.734 | 0.142 | No heteroskedasticity |
| Ramsey RESET test | Model specification | 0.511 | 0.475 | Model is stable |
| CUSUM | Stability | – | – | Model is stable |
| CUSUM-SQ | Stability | – | – |
