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    Regression Results

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    Please help interpret the regression results.

    I regressed LogCost on LogSeatMiles, LogPriceLabor, LogPriceMaterials Log PriceFuel

    Here are the results:

    Variable Coefficient
    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
    https://brainmass.com/economics/regression/assessing-regression-results-105703

    Solution Preview

    You should quote the log factor too.

    A 1% increase in log of seat miles increases log of variable costs by ...

    Solution Summary

    Assess regression results in the solution.

    $2.19