Gretl Project

•. Clearly stated goal or hypotheses to be verified • Description of the data set used to verify student’s hypotheses • Choice of dependent and explanatory variables • Initial model statement and its subsequent improvements • correlation analysis • testing model’s validity using F test • elimination of nonsignificant variables • detection of outliers • Final verification of model’s assumptions • normality test of residuals • homoscedasticity test (White’s test) • Durbint Watson errors correlation test (for time series) • Conclusions