As you can see, the null hypothesis is rejected on the same latitudes.
Therefore, at this stage, the fixed effects model is selected as the preferred model. However, the fixed effects model should be tested against the random effects model. Hausman test was used for this work.
In this test, the null hypothesis and its contrast is as follows:
H0: = random affects model, there is no correlation between the explanatory variables and the individual effects.
H1: = fixed effects model, the individual effects and the explanatory variables are correlated.
The Hausman test for the model (1) is shown in Table 2. As you can see, the null hypothesis that there is no relationship between the individual effects and the explanatory variables may be rejected. So we need to estimate model (1) the method used fixed effects.
The model (1) is shown in Table 3.
As you can see, the null hypothesis is rejected on the same latitudes.Therefore, at this stage, the fixed effects model is selected as the preferred model. However, the fixed effects model should be tested against the random effects model. Hausman test was used for this work.In this test, the null hypothesis and its contrast is as follows:H0: = random affects model, there is no correlation between the explanatory variables and the individual effects.H1: = fixed effects model, the individual effects and the explanatory variables are correlated.The Hausman test for the model (1) is shown in Table 2. As you can see, the null hypothesis that there is no relationship between the individual effects and the explanatory variables may be rejected. So we need to estimate model (1) the method used fixed effects.The model (1) is shown in Table 3.
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