read the and download the file posted here, then watch the video posted in the folder about how to conduct regression in Microsoft excel, and then emulate the regression results using the excel file titled “production excel data” for production case to be posetd (2 tables)”. Then discuss about the two regression results about the production function using two inputs : Labor and Capital. Upload the excel file containing results of the two regressions. Comment on inclusion of which other variables would have made this production function model more realistic. These two regression results need to be included in the same excel file as separate worksheet ply (please watch the posted video about how to insert regression results as separate worksheet ply).
- Please conduct regression using the data on the excel file titled “car_sales_data_for_regression_assignment” and then save the regression results on separate worksheet ply as shown on the how to video in this regard. Please comment on the sign and statistical significance of the estimated coefficients of seven independent variables (dependent variable is “cars_sold_annually”). Please comment on inclusion of which other variables would have further improve the predictability of the model. Please upload your excel file containing the regression results.
- Create a power point file and in 6-8 (minimum six and maximum eight) slides please interpret the regression results as found in the Production function estimates and the annual car sales regression exercises. Please add your voice narration to your power point analysis (watch the video posted in this folder about how to add voice narration to your power point presentation slides).
let me know if you have any questions in this regard. In your power point slides, please answer to the following questions:
A. List the dependent variable (Y-variable) and independent variables (X-variables) in the “production function model” and in the “annual car sales” model? Interpret the sign and magnitude of the estimated coefficients of these two models and comment on their statistical significance (if P-values of an estimated coefficient is 0.05 or less then it is statistically significant). Please comment on the coefficient of determinations (R-squared) of the models (production model and car sales model).
B. Please refer to the PDF file provided and explain why sometimes it is better to use a Cobb Douglas production function on When it is recommended that we use “Double log or Log Linear production function” instead of a “Linear production function”? If you are the manager, to make the production function model more “realistic”, which other variables you may include to increase the explainability of the model? (Think about other factions of production, besides labor and capital and think about the practicality of data collection about the variables that are currently non included in the model, but you would like to include them in the regression model as a manager)
C. Comment on suitability of the independent variables (the X-variables) the annual car sales data and the regression results. Which other independent variables you would like to include in the model to improve the explainability power of the model? If you are the manager of this multilocation car dealership, how would you go about managing the data collection process for the variables that are currently missing in the model and you would like to include them in the model.
Sample Solution
