11. Your firm has just launched a new product and has solicited a large number of potential customers to rate its effectiveness between 0 and 100. You are particularly interested in how an individual's rating of the new product depends on his/her age. To estimate this effect, you divide the potential customers into age groups: under 25, 26-40, 41-55, and over 55. You then assume the following data-generating process: Rating, = a + BjAge25, + B2Age2640, + B3Age4155, + B4Age55; + U, Here, each Age variable is a dichotomous variable that equals 1 if individual i belongs to that age group and 0 otherwise. Use the data in the file Chap10Prob1112.xisx. (LO4) Dataset available at a. Create the dichotomous variables: Age25, Age2640, Age4155, and Age55. www.mhhe.com/princele b. Why are you unable to estimate the effect of each age group as listed? c. Estimate and interpret the effect of changing age groups on the Rating. 12. You've decided to expand your analysis from Problem 11 Id like