Suppose a labor economist analyzes the following wage equation: Hwage = f(Educ, Exper, Female, Union) Where Hwage is hourly wage, Educ is years of education, Exper is years of experience, Female is a dummy variable taking the valuel for female and 0 for male, and Union is a dummy variable taking the value 1 for union membership and 0 for non-union membership. Part I: Descriptive Statistics a. Construct a table of summary statistics (mean, standard deviation, minimum, and maximum values) of the variables. Explain briefly the results. b. Find the correlation coefficient matrix for the variables used. Explain the direction and strength of relationships of the