Answer to Question #203226 in Economics of Enterprise for emiru amsalu

Question

Problem 4

Suppose the production(Y) is determined as a function of labour input in hours (L) and capital input in machine hours (K). Using the Cobb-Douglas function:

Y= β0 + β1K β1 + ek

Write the procedure to estimate the coefficients of this function

Problem 5

Show that the test taking the overall significance of regression model using ANOVA table to be expressed as:

𝑭=𝑹𝟐𝒌−𝟏⁄(𝟏−𝑹𝟐)𝒏−𝒌⁄

Where, R be a level of determination and k is the number of parameters in the n sampled regression model.

Answer 1

Dear emiru amsalu, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order