Is there a difference in the two test results

Reference no: EM131243638

In regression (7.9.4), we presented the results of the Cobb-Douglas production function fitted to the Taiwanese agricultural sector for the years 1958-1972. On the basis of that regression, find out if there are constant returns to scale in that sector, using

a. The t test given in (8.7.4). You are told that the covariance between the two slope estimators is -0.03843.

b. The F test given in (8.7.9).

c. Is there a difference in the two test results? And what is your conclusion regarding the returns to scale in the agriculture sector of Taiwan over the sample period?

Reference no: EM131243638

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