= For the population of workforce in the UK in 2013, let Wage measure the wage in pounds per hours. Thus for a particular person, if Wage 7, the hourly wage is 7 pounds. Now let Education denote years of schooling. For example, Education 12 corresponds to a complete school education. A company wants you to estimate the following Simple Linear Regression (SLR) model to investigate the relationship between education and average wages. Wage = Bo + B1 Education +u = 20 Suppose the company provides you with the following summary statistics of a sample of 20 people: Liel(Education; - Education)(Wage;-Wage) 100, 22-1 (Education;- Education)2 = 80, Education 12, Wage = 8, where Education and Wage are the sample average of Education and Wage. = 1. Provide an Ordinary Least Squares (OLS) estimate of the slope parameter B1. (2.5 marks) 2. Provide an Ordinary Least Squares (OLS) estimate of the intercept parameter Bo. (2.5 marks)