Answer-Ramsay retest is used for

The Ramsay RESET test is used for detecting omitted variables in regression models. It tests for general functional form misspecification by adding powers of the fitted values into the regression and checking if they are significant.

Question

Ramsay retest is used

for

A Testing for stationarity in time series data.

B Detecting heteroscedasticity in regression models.

C Detecting omitted variables in regression models.

D Checking for multicollinearity among independent variables.

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Ramsay retest is used

Solution