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PART 2 2a. The following regression was estimated using data for school grades measured in values that go from 50 to 100. IncomeA f terGraduatlon = 40,000 + 100 ~SchoolGrade We do not have the data that was used to produce this regression, but we would like to find out what the regression would have been if we had used a new grading system that presents grades in values that go from 0 to 4. Suppose a 50in the original system is equivalent to a 0 in the new system, and a 100 in the original system is equivalent to a 4. This means that the conversion method to go from original grades to new grades is given by newgrade = 4 + 0.08 * oldgrade. -According to the regression we are given, what would be the income after graduation predicted for a student who got a school grade of 100? What if the school grade is 50? -Use the numbers you calculated in the questions above to "guess\" what the intercept and slope should be when they are estimated using data in the new grading system. (HINT: when you \"plug in\" a 0 in the new equation, you should get the same number as when you plugged in a 50 in the old one. Think of what you should get when you \"plug in\" a 4). -Knowing now the intercept and slope that you are supposed to get, calculate them again, but instead of \"guessing" use the method provided on Lecture 4. 2b. Provide an interpretation for the slope parameter in each of the following models. -Regression 1. Dependent variable measures grades in values that go from O to 100, independent variable measures time students spent studying in hours: SchoolGrade = 40 + 125010g(StudyTime) + U -Regression 2. Dependent variable measures the number of accidents in some highway, independent variable measures rainfall in centimeters of water accumulated on the street: log(TrafficAccidents) = 2.079442 + 25.1210g(Rainfall) + U -Regression 3. Dependent variable measures the number of pulmonary illnesses reported in some City per day, independent variable measures the amount of money spent on a public campaign against consumption of cigarettes, measured in dollars. log(PulmonaryIllnesses) = 5.135798 0.0017HealthCampaignSize + U