Research Methodology

20211-30043
Lawish Kumar
Labor and Output
Interpretation:
A data sample of around 51 observations was conducted.
The equation of data is driven as:
Y(output)=a+Bx1(labor)+ Bx2(output).
In the given data output is the dependent variable while labor
and capital are independent variables.
an increase in one unit of labor causes a gain in output of 48
units, citrus paribus, at a very significant level with a probability
of 0.000 or less than 1%.
a gain in one unit of capital results in a 9.951 unit increase in
output, Citrus paribus, at a highly significant level, with a
probability of 0.000 less than 1%.
Indicating that only 2% of the external variables are influencing
the data, and all of the dependent variables have a 98% good
fit to the data. 98% of the data are impacted by the present
variables.
The whole model is highly significant with prob 0.000 less than
1%.