Table 5 Diagnostic test.
From: Is government spending in the education and health sector necessary for human capital development?
Diagnostic test | Model 1 | Model 2 | Model 3 | Model 4 | Model 5 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
F-statistic | Prob. | F-statistic | Prob. | F-statistic | Prob. | F-statistic | Prob. | F-statistic | Prob. | ||
LM test | 0.58 | 0.55 | 0.23 | 0.79 | 0.62 | 0.53 | 0.21 | 0.712 | 3.97 | 0.23 | |
Decision | No serial correlation exists all models | ||||||||||
Heteroskedasticity test | 0.67 | 0.54 | 0.116 | 0.63 | 1.03 | 0.45 | 2.71 | 0.315 | 2.83 | 0.24 | |
Decision | No heteroskedasticity exists in all models | ||||||||||
Ramsey RESET test | 0.33 | 0.74 | 1.84 | 0.61 | 1.84 | 0.41 | 0.80 | 0.370 | 1.97 | 0.43 | |
Decision | Models are reliable | ||||||||||
