Challenge: Regression Diagnostics and Sensitivity Analysis

Problem statement

Reestimate the trade-growth model in Frankel and Romer for the year 1990. Display the following diagnostic plots for the model simultaneously:

• Residuals versus fitted values
• Normal Q-Q plot
• Scale-location plot of the square root of residuals against fitted values
• Cook’s D versus observation numbers
• Residuals versus leverages
• Cook’s D versus leverage/(1-leverage)