3. Fill in the blank spaces of table B1 using information compiled in table B. Table B Breusch-Godfrey Serial Correlation LM Test: Prob. F(2,55) Prob. Chi-Square(2) F-statistic 11.70006 0.0001 Obs*R-squared 17.90823 0.0001 Table B1: Breusch-Godfrey Serial Correlation LM Test F-statistic: ? Probability: a. Write down the null and alternative hypotheses underlying Breusch-Godfrey serial correlation (autocorrelation) test. b. Will you accept or reject the null hypothesis based on the Breusch-Godfrey test for residual autocorrelation? Why or why not?
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
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