residuals. For our mortality regression, the histogram of the residuals is as shown in Figure 8.2.
From the histogram it seems that the residuals are normally distributed. We can also compute the Jarque-Bera (JB) test of normality, as shown in Eq. (5.12.1). In our case the JB value is 0.5594 with ap value 0.76.3 Therefore, it seems that the error term in our example follows the normal distribution. Of course, keep in mind that the JB test is a large-sample test and our sample of 64 observations may not be necessarily large.
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