What is the value of the OLS estimate of the variance the residuals (the s2) ? a) .35b) .34c) .33d) .32e.) .31 The output below is OLS estimation of log output, (Inoutput) as a function of inputs:capital stock (number of units), labour (number of people) and years of managerialexperience on a sample of farms.Output is measured in thousands of kilograms. The managerial experience variableis a proxy for the unobserved variable managerial efficiencyLnOutput; = bo+ bịCapital; + b2Labour; + b3Manage_Experience; + UiSome of the information from the output has been hidden.reg Inoutput capital labour manexperSource |SSdfMSNumber of obs%3DF (3, 71)15.01%3DModel |Residual |35.33333333Prob > F0.000025.000000R-squaredAdj R-squared71Total |41.00000074.554054054Root MSE.59333Inoutput |Coef.Std. Err.P>|t|[95% Conf. Interval]capital |labour |.0606554.02573292.360.0210093455.1119653.0434242.0216242.010.048.0003071.0865414.0205922manexper |cons |1.500.1389097925.22850373.980.000.4541691.365416

The estimate of the variance of the residuals is given by the Mean Square of Error(MSE) which is…

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

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Problem 1P

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What is the value of the OLS estimate of the variance the residuals (the s2) ? a) .35 b) .34 c) .33 d) .32 e.) .31