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Use the following data on cost and output levels to estimate an equation for cost [cost is the dependent variable) - costougutdis t How do
Use the following data on cost and output levels to estimate an equation for cost [cost is the dependent variable) - costougutdis t How do you think the output level should affect cost? Test your hypothesis using the output from STATA in you estimation, Include your OUTPUT file when you send in anwers. Get data use costouput.dta * Run a regression reg output cost Source SS df MS Number of obs F (1, 6) 2598.43 Model 149 . 155587 1 149.155587 Prob > F 0.0000 Residual . 344412823 6 .057402137 R-squared 0.9977 Adj R-squared 0.9973 Total 149.5 7 21.3571429 Root MSE . 23959 output Coefficient Std. err. P>It| [95% conf. interval] cost .2531279 . 0049657 50.97 0.000 . 2409771 .2652786 cons -30.93632 1.340326 -23.08 0.000 -34.21598 -27. 65666
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