Microsoft PowerPoint - Lecture 5-profdave on Sharyn_Office.pptLecture 5: Model Checking Prof. Sharyn O’Halloran Sustainable Development U9611 Econometrics II Regression Diagnostics � Unusual and Influential Data Outliers Leverage Influence � Heterosckedasticity Non-constant variance � Multicollinearity Non-independence of x variables Unusual and Influential Data � Outliers An observation with large residual. � An observation whose dependent-variable value is
