Regression Analysis Results in the Estimation Equation Log $\hat{ Y }$

question 62

Essay

Regression analysis results in the estimation equation log $\hat{ Y }$
= 3.0 + 0.50 log x₁ + 0.35 log x₂ following data transformation.Transform this equation to the equivalent exponential model of the form $\hat{ Y }$
= $b _ { 0 } x _ { 1 } ^ { b } 1 x _ { 2 } ^ { b _ { 2 } }$ .(The base of the logarithm is 10.) $\hat{ Y }$
= ____________________

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Definitions:

Proportional

Referring to a relationship where changes in one item directly mirror changes in another, often expressed as a constant ratio.

Tax System

The legal framework and mechanisms through which taxes are imposed on individuals, corporations, and transactions in a country, shaping the distribution of tax burdens.

Deadweight Losses

Economic inefficiencies that occur when the free market equilibrium is disturbed, resulting in a loss of economic value, often due to taxes, subsidies, or price controls.

Administrative Burdens

The costs and obstacles associated with compliance to legal and regulatory requirements by businesses or individuals.