Use MacKinnon, White, and Davidsons PE test to determine whether a linear or loglinear production model is
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Use MacKinnon, White, and Davidson’s PE test to determine whether a linear or loglinear production model is more appropriate for the data in Appendix Table F6.1. (The test is described in Section 9.4.3 and Example 9.8.)
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First the two simple regressions produce Linear 114338 1734 233814 Constant Labor 1039 471043 1124 9...View the full answer
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