3. Using the correct and specific units for each example, in a sentence or two, interpret the estimated slope coefficient in these OLS estimates. For the case with logged variables, use the relevant approximation described in class and Chapter two, do not interpret them as log points. (a) (3 points) foodexpend; = 162.77 + 45.02 In (income); Where foodexpend; is total weekly expenditures on food for family i in British pounds, and In (income); is the natural log of family income (which was in British pounds before it was logged). (b) (3 points) crmrte; = 103.2434 0.208unempi Where crmrte; is number of crimes committed per 1000 people in city i and unempi is the unemployment rate in city i expressed as a percentage. (c) (2 points) Re-write the estimated crmrte; from part (b) but change the units of unempi so that the unemployment rate is expressed as a proportions or decimal. To be clear about what the difference between writing the unemployment rate as a percentage versus a proportion: an unemployment rate expressed as a percentage might be 7.97 percent, where as expressed as a decimal or proportion that would be 0.079