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Read part of the article "A Student Friendly Illustration and Project: Empirical Testing of the Cobb-Douglas Production Function Using Major League Baseball" by Larriviere and Sandler. Follow the instructions to complete the project and answer the last three questions at the end of the article.?
Questions-
1. Calculate the direction and statistical significance of the independent variables.
2. Evaluate the overall performance of the model.
3. Define output elasticity. Given the regression result for 2006, what impact would a 10 percent in HR have on output.
Attachment:- Article.rar
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