Fixed Effect| Random Effect | Hausman test | BP test | STATA
In this video, we explore how to determine whether the Fixed Effects, Pooled OLS, or Random Effects model is more suitable for your panel data analysis. We demonstrate how to use the Hausman test to compare Fixed vs. Random Effects and the Breusch-Pagan (BP) test to decide between Random Effects and Pooled OLS. By the end of this tutorial, you'll know how to choose the best model for your data with confidence in STATA.