Question: Use the following information to answer Q13-Q14. The researcher performed diagnostic tests on the residuals of regression (3). Breusch-Godfrey Serial Correlation LM Test: Null

Use the following information to answer Q13-Q14. The researcher performed diagnostic tests on the residuals

Use the following information to answer Q13-Q14. The researcher performed diagnostic tests on the residuals of regression (3). Breusch-Godfrey Serial Correlation LM Test: Null hypothesis: No serial correlation at up to 2 lags F-statistic Obs*R-squared Variable: INC AGE MARR MALE C RESID(-1) RESID(-2) 6.201477 12.39573 R-squared Adjusted R-squared S.E. of regression Sum squared resid Log likelihood F-statistic Prob(F-statistic) Prob. F(2,9268) Prob. Chi-Square(2) Test Equation: Dependent Variable: RESID Method: Least Squares Date: 08/23/22 Time: 19:29 Sample: 1 9275 Included observations: 9275 Presample missing value lagged residuals set to zero. Coefficient Std. Error t-Statistic Prob. -0.001634 0.027081 -0.060320 0.9519 0.004516 0.059344 0.076107 0.9393 -0.068889 1.439014 -0.047873 0.9618 0.105408 1.621548 0.065004 0.9482 -0.099716 2.754545 -0.036201 0.9711 0.036574 3.517782 0.0004 0.010397 0.010390 -0.292748 0.7697 -0.003042 0.0020 0.0020 0.001336 Mean dependentvar 0.000690 S.D. dependentvar 58.11713 Akaike info criterion 31303610 Schwarz criterion -50836.48 Hannan-Quinn criter. 2.067159 Durbin-Watson stat 0.053670 1.08E-14 58.13719 10.96355 10.96894 10.96538 1.999973 Q13. Based on the Breusch and Godfrey test, what is the order of the lag of the serial correlation in the null hypothesis? [2] Q14. What can you infer from the Breusch and Godfrey test results? [2]

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