Homework answers / question archive / I regressed LogCost on LogSeatMiles, LogPriceLabor, LogPriceMaterials Log PriceFuel Here are the results: Variable Coefficient Log SeatMiles

I regressed LogCost on LogSeatMiles, LogPriceLabor, LogPriceMaterials Log PriceFuel Here are the results: Variable Coefficient Log SeatMiles

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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.