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Economist at the Wilson Company are interested in developing a production

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h posted a question Dec 18, 2014 at 7:32am;Economist at the Wilson Company are interested in developing a production function for fertilizer plants. They collected data on 15 different plants that produce fertilizer.;1. Estimate the Cobb-Douglas production Q=?L?1K?2, where Q=output, L=Labor input, K=capital input, and?,?1, and?2 are the parameters to be estimated.;2. Test whether the coefficients of capital and labor are statistically significant.;3. Determine the percentage of the variation in output that is explained by the regression equation.

 

Paper#28209 | Written in 18-Jul-2015

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