Question: Lb) Explain how you would interpret the regression coefcient of lnlabor. [5 marks] l.c) Explain how you would interpret the R-squared statistic of this regression?

Lb) Explain how you would interpret the regression coefcient of lnlabor.

Lb) Explain how you would interpret the regression coefcient of lnlabor. [5 marks] l.c) Explain how you would interpret the R-squared statistic of this regression? [5 marks] l.d) How would you test whether the OLS model presented suffers from multicollinearity given that labour and capital could be correlated? Be explicit as to what values this test would need to take for you to conclude that the regression suffers from multicollinearity. [5 marks]

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