Please help interpret the regression results.
I regressed LogCost on LogSeatMiles, LogPriceLabor, LogPriceMaterials Log PriceFuel
Here are the results:
Log SeatMiles .8958442
Log PriceLabor .287488
Log PriceMaterials -.0987056
Log PriceFuel .2973048
I want to double check and make sure that I am doing this correctly:
A 1% increase in seat miles increases variable costs by 0.90% all else held constant. A 1% increase in the price of labor increases variable cost by 0.029% all else held constant. A 1% increase in the price of materials decreases variable cost by 0.099% all else held constant. A 1% increase in the price of fuel increases variable cost by 0.30% all else held constant.© BrainMass Inc. brainmass.com October 9, 2019, 7:02 pm ad1c9bdddf
You should quote the log factor too.
A 1% increase in log of seat miles increases log of variable costs by ...
Assess regression results in the solution.