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I have estimated the following model: ^ sleep = 3840.852 - .1634235totwrk - 11.71327educ - 8.697402age + .1284415age2 - . 0228006yngkid + 87.75455male Consider the
I have estimated the following model: ^ sleep = 3840.852 - .1634235totwrk - 11.71327educ - 8.697402age + .1284415age2 - . 0228006yngkid + 87.75455male Consider the H0 for the test of heteroscedasticity (Var u|x 1, x2,...,xk) = 2 . For this test: (1) Discuss, in the general case, what a Type I versus Type II Error would be. Which error would you consider \"more serious?\" Explain why. (2) Discuss, for the particular model above, what a Type I versus Type II Error would be. Which error would you consider \"more serious?\" Explain why
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