#StackBounty: #r #regression #interpretation #goodness-of-fit #bias Ramsey's reset test (i.e. Omitted variable bias test) result in…

Bounty: 50

I have the Ramsey’s reset test result to find whether my regression has any omitted variable bias. I have the following result and shall I say I do or do not have omitted variable bias and why?

    > resettest(pt_logit,power=2,type="regressor")

            RESET test

    data:  pt_logit
    RESET = 39.307, df1 = 5, df2 = 20372, p-value < 2.2e-16

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