A study of 86 savings and loan associations in six northwestern states yielded the following cost function. million) times 100 percent. Q= output; measured by total assets (\$ million) X1= ratio of the number of branches to total assets (\$ million) Note: The number in parentheses below each coefficient is its respective t-statistic. Holding constant the effects of bank branching (X1), what is the level of total assets that minimizes the average operating experation $574.08 million $1,148.16 million $461.56 million $1,560.21 million What is the average operating expense ratio for a savings and loan association with the level of total assets determined in the previous branch? 6.32% 2.87% 1.11% 1.17% What is the ratio with 10 branches instead? 1.48% 1.41% 3.17% 6.62% A study of 86 savings and loan associations in six northwestern states yielded the following cost function. million) times 100 percent. Q= output; measured by total assets (\$ million) X1= ratio of the number of branches to total assets (\$ million) Note: The number in parentheses below each coefficient is its respective t-statistic. Holding constant the effects of bank branching (X1), what is the level of total assets that minimizes the average operating experation $574.08 million $1,148.16 million $461.56 million $1,560.21 million What is the average operating expense ratio for a savings and loan association with the level of total assets determined in the previous branch? 6.32% 2.87% 1.11% 1.17% What is the ratio with 10 branches instead? 1.48% 1.41% 3.17% 6.62%