2. Further tests were done on the regression and the following results were obtained:

series: residuals

sample: 1224

observations: 224

mean: 7.11e-17

median: 0.010827

maximum: 2.396041

minimum: -3.226509

std. deviation: 0.945143

skewness: -0.233621

kurtosis: 3.701189

Jarque-bera: 6.626489

Probability: 0.036398

Heteroskedasticity Test: Breusch-Pagan-Godfrey

F-statistic 17.43103 Prob. F(2,221) 0.0000

Obs*R-squared 30.52075 Prob. Chi-Square (2) 0.0000

Scaled explained SS 40.12441 Prob. Chi-Square (2) 0.0000

A. Identify the null and alternative hypothesis of the Jarque-Bera test and Interpret the test result at 1% and 5% level.

B. Identify the null and alternative hypothesis of the Breusch-Pagan-Godfrey test and Interpret the test result at 5% level.