An analyst believes wages are determine by years of education (educ) and parental income (ParInc) according to Y = 8y + freduc + foeduc + B3 log(ParInc) + . (i) Interpret the magnitude of 3. (ii) Interpret the magnitude of j. (iii) Can these parameters be estimated by least squares regression? If no, state \"no\" and explain why not. If yes, state \"yes\" and describe what regression you would estimate. Specifically, you would regress what on what? (You do not need to list the additional assumptions that would let you interpret OLS as estimating parameters of the economic model.) (iv) Consider an alternative model that replaces log(ParInc) with just Parlne, ie. Y = &g + @educ + azeduc + azParlnc +e. Give a reason to use the model with log(ParInc) versus this alternative model. (v) Consider an alternative model . Y = q0 + J1educ + educ + . Can these parameters be estimated by least squares regression? If no, state \"no\" and explain why not. If yes, state \"yes\" and describe what regression you would estimate. Specifically, you would regress what on what? (You do not need to list the additional assumptions that would let you interpret OLS as estimating paramters of the economic model.)