The model in problem 11-78 is transformed to a linear regression model and analyzed with a computer. Do the estimated regression coefficients minimize the sum of the squared deviations of the data from the original curve? Explain.
Problem 11-78
The model used in economics to describe production is
where the dependent variable Q is the quantity produced, C is the capacity of a production unit, K is the capital invested in the project, and L is labor input, in days. Transform the model to linear regression form.