As discussed in class, the literal meaning of Econometrics is economic metric, through the use of statistical methods, such as regression analyses. a. You are now required to conduct your own econometric analysis using a multiple linear regression model to assess the relationship between poverty and education level. The other independent variables are income, family background (dummy) and gender (dummy). These may not be the only variables that impact poverty, but the model only captures these four (4) independent variables. What assumptions about the residual should hold in order to estimate this model? (2 marks) b. Use the assumptions listed above to derive the following estimators by using either method of moments or least squares procedures: i. ii. ... 111. Boin the model Yi = Bo + Bxi + Ui B in the model Yi = Pxi + Ui for i=1,2,..., n. (3 marks) [Hint: let x - x = Z] for i=1,2,..., n. (4 marks) in the model Yi = P(x - x) + U for i=1,2,..., n. (4 marks)