Random effect

Hello everybody!

I have some problems making a regression. I am told that to correct my data by using random effect. I don'nt know how this exactly works. This should be like an option that you can check. (e.g, in evieuws you can check newey west and it corrects for heteroskedasticity and autocorrelation. Does anyone knows how this works as i am in desperate need for help!

Thank you!