4. Suppose that a least squares regression yields the following estimate:

= 1 + 0.3 where W is the hourly wage rate (in dollars) and A is the age (in years).

A second regression from another group of workers yields this estimate:

=1+0.3 0.01()" !!!

a. How much is a 20-year-old predicted to earn based on the first estimate?

b. How much is a 20-year-old predicted to earn based on the second estimate?