Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer this question based on the data below 2. Please collect data on China's automobile production, capital investment, labor input to estimate China's automobile (linear)

Answer this question based on the data below

image text in transcribed
2. Please collect data on China's automobile production, capital investment, labor input to estimate China's automobile (linear) production function. Fixed asset Total workers Total units investment employed produced Capital (K) Labor (L) Year (100 millions yuan) (10,000) Output (Q) LN(K) LN(L) LN(Q) 2008 3787 209.4 9,299,180 8.239329428 5.344246298 16.0454368 2009 4965 216.5 13,790,994 8.510168576 5.377590547 16.4395263 2010 658 220.3 18,264,761 8.803574418 5.394990254 16.7204841 2011 8406 241.7 18,418,876 9.036701016 5.487697288 16.7288866 012 8004. 250.8 19,271,808 8.987721683 5.524655809 16.7741539 2013 9272.06 339.9 22,116,825 9.134760856 5.828651457 16.9118492 2014 0098.65 350.5 23,731,600 9.220157031 5.859360706 16.9823181 015 1527.48 360 24,503,326 9.352489029 5.886104031 17.0143194 2016 2036.91 15. 28,118,794 9.395733041 .421784856 17.1519487 2017 3099.94 630 29,015,434 9.480362929 6.445719819 17.1833385 Sources: https://www.oica.net/category/production-statistics https://www.macrotrends.net/charts/commodities https://www.stats.gov.cn/ https://www.ceicdata.com/en/china/automobile-industry-financial- data SUMMARY OUTPUT Multiple R 0.982212141 R Square 0.96474069 Adjusted R S 0.954666601 0.073538442 10 of SS MS Significance F 1.03577083 0.517885415 95.76456209 8.23111E-06 0.037855318 0.005407903 Bit 1.073626148 Coefficients t Stat -value ower 95% Upper 95% TER 95.0% BR 95.06 Intercept 9.153774851 0.595744985 15.36525708 1.19263E-06 7.745061811 10.5624879 7.74506181 10.5624879 LN(K) 0.841102138 0.1121033 7.502920434 0.000136967 0.576019957 1.10618432 0.57601996 1.10618432 LN(L) 0.010072898 0.108880831 0.092513053 0.928882445 -0.247389354 0.26753515 -0.2473894 0.26753515 PROBABILITY OUTPUT N(Q) 16.04543678 15 16.43952633 25 16.72048413 35 16.72888657 45 16.77415386 55 16.91184919 65 16.98231805 75 17.01431942 85 17.15194874 95 17.18333845 Intercept 9.153774851 LN(K) 0.841102138 LN(L) 0.010072898 9450.04565

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Economics And Policy

Authors: Thomas H Tietenberg

5th Edition

0321348907, 9780321348906

More Books

Students also viewed these Economics questions

Question

What tool is being utilised here in terms of DSMM?

Answered: 1 week ago