Hausman’s Model Selection Procedure.

Hausman's model selection procedure, also known as the Hausman test, is a statistical test used in econometrics to choose between two competing models, typically a fixed effect model and a random effect model. It helps determine whether individual-specific effects are correlated with the independent variables.

Here are some key points about Hausman's model selection procedure:

1. Purpose: The Hausman test aims to assess the appropriate model specification by comparing the efficiency and consistency of the estimators. It ________ _________ ____ __________ _________ _______ _______ __________.
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