Questions 7 and 8 please Part 1: (Model 1) log(Quantity) b + bilog(Capital) + by

Question

Questions 7 and 8 please

Part 1: (Model 1) log(Quantity) b + bilog(Capital) + bylog(Hours)+ 1. Estimate the basic production model and report regression results. Include coefficients, standard errors, and t-statics. (Note: You will have to create new variables for estination) Generate Inquantity log (quantity) do this for capital and hours and then regress Inquantity Incapital Inhours 248 = 160.75 00000 = 0.5675 Adj R-squared - 0.5640 df MS Number of obs = Source I1 -F(2,245) 245 1.26437177 R-squared 247 2.89990253 Root MSE 2 203.25242 Prob > P Model I 406.50484 Residual 1 309.771084 1.1244 Total 1 716.275924 t PtI 1958 Cont. Interval] 161273 3497059 16.22 0.000 .3123154 .5465205 cons I 2.143711 1304278 16.44 0.000 1.886808 2.400614 1nquantity Coef. Std. Err. Incapital 2554895 047833 0594522 5.34 0.000 Inhours rs4294179 yltar what is the marginal zeurns to hours apent žishing? Be

Explanation / Answer

7.

They are almost the same.

The Rsquare for Q6 is slighly higher than the Rsquare for Q1, must can be ignored.

The pvalues, tvalues are almost the same indicating they are significant in both the models.

The 95% CI is also the same in the 2 parts.

8.

No. The new regression results do not effect which coefficients.

The coefficients in both the questions are still significant at 5% confidence.

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