2. Consider the following estimated regression equation for average annual hours worked (per capita) for young (16-21 years) black men in 94 standard metropolitan statistical areas (standard errors are in parentheses): B = 300.0 +0.50W; -7.5U; -18.3 InP; (0.05) (7.5) (6.1) d = 2.00, N = 94 and adjusted R= .64 where: B = average annual hours worked (per capita) by young black men in the ith city W = average annual hours worked (per capita) by young white men in the ith city U = black unemployment rate in the ith city InP = natural log of the black population in the ith city a. Develop and test at the 5% level of significance your own hypothesis with respect to the individual estimated slope coefficients. b. How would you respond to the claim that an estimated coefficient of W that is far less than one is proof that racial discrimination exists in the labor market in this country? c. Since this is a cross-sectional model, is it reasonable to worry about heteroscedasticity? What variable would you choose as a possible Z? Explain your choice. d. Suppose you ran a Park test with respect to your chosen Z and found a t-score of 1.91. Does this support or refute your answer to part c? e. Suppose you were asked to make one change in the specification of this equation. What would you suggest? Explain your choice