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hi can help with the question Consider the following model for 36 rice farmers: ln(PROD)i=1+2ln(AREA)i+3ln(LABOR)i+4ln(FERT)i+ui EVIEWS Output from estimating this equation is partially given below:
hi can help with the question
Consider the following model for 36 rice farmers: ln(PROD)i=1+2ln(AREA)i+3ln(LABOR)i+4ln(FERT)i+ui EVIEWS Output from estimating this equation is partially given below: Dependent Variable: LNPROD Method: Least Squares Sample 036 a) Interpret the coefficient of ln(AREA) and establish a 90 percent confidence interval for 2. b) Interpret the value of R2 c) Test the overall significance. d) Using a 5% level of significance, test the hypothesis that the elasticity production with respect to labor is equal to 0.3 against the alternative that is greater than 0.3. e) Given cov(^2,^3)=0.003117 and using a 1% level of significance, test the hypothesis that the elasticity of production with respect to land is equ: to the elasticity of production with respect to laborStep by Step Solution
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