Cross sectional data analysis

[marnixvandeursen]

Hi,

I want to do a cross sectional data analysis (see attachement) with sample size +/- 1140. Least squares method is used to estimate the model.

Dependent: (log) price

Independent: 1. land quality (poor, average, good); 2. size 3. farm density 4. population density 5. population growth.

I really wonder which steps I need to follow (including the tests).

e.g. multicollinearity, heteroskedasticity (problem which I even cannot solve with White's robust standard errors), spatial autocorrelation (which test? if even necessary), normal distribution of residuals (interpretations problems of jarque bera and not able to determine the t-table statistic which I need to consider).

Im I missing some steps? Are these the right steps? Are these the right tests and even neceassary?

Please help, its for my Msc. thesis and Im struggling with it for already two months.

Thank you in advance for any guidance.

Kr,

Marnix