Results of F-test/Wald test, LM test and Hausman test
| Models | Tests | Test statistics | Decision |
|---|---|---|---|
| Fixed vs OLS | F-test | 3.53* | H0 is rejected |
| p-value | 0.0089 | ||
| Wald test | 11.09* | H0 is rejected | |
| p-value | 0.000 | ||
| Random vs OLS | LM test | 0.00 | H0 is accepted |
| p-value | 1.000 | ||
| Fixed vs random | Hausman test | 13.19* | H0 is rejected |
| p-value | 0.010 |
| Models | Tests | Test statistics | |
|---|---|---|---|
| Fixed vs OLS | 3.53* | H0 is rejected | |
| 0.0089 | |||
| Wald test | 11.09* | H0 is rejected | |
| 0.000 | |||
| Random vs OLS | LM test | 0.00 | H0 is accepted |
| 1.000 | |||
| Fixed vs random | Hausman test | 13.19* | H0 is rejected |
| 0.010 |
Note(s): *Significant at 1% level
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