4.(8) a) Suppose we estimate a model: OwnEducation Attainment 7.76 +1.25 AfrAmer -0.15Female +0.41Pareneduc +0.01 Age -0.13AfrAmer*Parenedu 0.54 0.46 -0.16 0.04 0.00 0.04 AfrAmer and Female are dummy variables. n= 4461. Discuss the role of parental educational attainment in their adult child's own educational attainment. Be precise, use the estimated coefficients. b) Suppose y = Bo + B income + B2educ + B3price + B4female + u E(ul income, educ, price, female)=0 and Var (ul income, educ, price, female)=0% = oincomeDerive the weighted least squares transformation to be estimated. 4.(8) a) Suppose we estimate a model: OwnEducation Attainment 7.76 +1.25 AfrAmer -0.15Female +0.41Pareneduc +0.01 Age -0.13AfrAmer*Parenedu 0.54 0.46 -0.16 0.04 0.00 0.04 AfrAmer and Female are dummy variables. n= 4461. Discuss the role of parental educational attainment in their adult child's own educational attainment. Be precise, use the estimated coefficients. b) Suppose y = Bo + B income + B2educ + B3price + B4female + u E(ul income, educ, price, female)=0 and Var (ul income, educ, price, female)=0% = oincomeDerive the weighted least squares transformation to be estimated