Breusch-Pagan / Cook-Weisberg test for heteroskedasticity Ho: Constant variance Variables: fitted values of price chi2 (1) Prob > chi2 O d. = The parameter estimates are biased. = Oa We have homoskedasticity Ob The OLS standard errors are incorrect. Owe fail to reject the null hypothesis so we have heteroskedasticity. 20.55 0.0000

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Breusch-Pagan / Cook-Weisberg test for heteroskedasticity
Ho: Constant variance
Variables: fitted values of price
chi2 (1)
Prob> chi2 =
=
20.55
0.0000
OaWe have homoskedasticity
O b The OLS standard errors are incorrect.
OCWe fail to reject the null hypothesis so we have heteroskedasticity.
Od. The parameter estimates are biased.
Transcribed Image Text:Breusch-Pagan / Cook-Weisberg test for heteroskedasticity Ho: Constant variance Variables: fitted values of price chi2 (1) Prob> chi2 = = 20.55 0.0000 OaWe have homoskedasticity O b The OLS standard errors are incorrect. OCWe fail to reject the null hypothesis so we have heteroskedasticity. Od. The parameter estimates are biased.
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