21. The estimation of a Cobb-Douglas production function for 20 firms of a given industry yields: 4. 16.907+0.322k; +2.777li R2 = 0.915 DW = 2.032 RSS = 0.461 Use α = 5% 4.939971 Var ẞ=0.216639 0.031857 -0.857446 -0.057229 0.166070/ where fitted values of naturals logarithms of output (output express in 1000 tons); ki: natural logarithms of capital output (output express in 1000 tons) l: natural logarithms of labour (labour is in hours) RSS: residual sum of squares 1: firm index Var ẞ: variance-covariance matrix of estimates Evaluate the statistical significance of the coefficients.
21. The estimation of a Cobb-Douglas production function for 20 firms of a given industry yields: 4. 16.907+0.322k; +2.777li R2 = 0.915 DW = 2.032 RSS = 0.461 Use α = 5% 4.939971 Var ẞ=0.216639 0.031857 -0.857446 -0.057229 0.166070/ where fitted values of naturals logarithms of output (output express in 1000 tons); ki: natural logarithms of capital output (output express in 1000 tons) l: natural logarithms of labour (labour is in hours) RSS: residual sum of squares 1: firm index Var ẞ: variance-covariance matrix of estimates Evaluate the statistical significance of the coefficients.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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