Pls help with this problem! Thanks so much.

Short Answer Question 1 (5 points each) You have obtained a sample of 14,925 individuals from the Current Population Survey (CPS) and are interested in the relationship between hourly wage and years of education. The regression yields the following result: hourlywage = -3.6 + 1.7 x educ, R" = 0.19 (0.1) (0.3) where hourlywage and educ are measured in dollars and years respectively. 1) Interpret the estimated slope (be as precise as possible). 2) If education increases by 2 years, what is the estimated average change in hourlywage ? 3) The average years of education in this sample is 14 years. What is the average hourly wage in the sample? 4) How would you interpret the regression R2 (be as precise as possible)? 5) What would be estimated intercept ( & ) and the R2 for a simple linear regression of hourlywage on a constant only, i.e., you estimate hourlywage = a tu