HELP: xtreg, Wald chi2

#1
I used the random effect regression, using

xtreg y x1 x2, re

I get

Wald chi2(7) = 99.68
Prob > chi2 = 0.0000

What does those values tell me?

what are the limit values of ''Wald chi2 ()'' and ''Prob>chi2'' and what do they tell me?

THANK YOU VERY MUCH, GRAZIE MILLE!!!

:eek: :eek:
 
#2
You can think of the Wald chi-square as serving the same purpose (i.e., an omnibus indicator
of the goodness of fit of the overall model) as you would see in an F test.

Because the p-value of the Wald chi-square is statistically significant, taken together, the
coefficients in the model are statistically significant.