Suppose you are interested in estimating the following model Abe = .30 + {31.496 + :1 Run a regression of average hourly earnings (Aha) on age (Age). (3) What is the estimated intercept 30'3The estimated intercept F3 is . (Round your response to four decimal places] [bl What is the estimated slope 31? The estimated slope F4 is . (Round your response to four decimal places) [cl If a worker's age increases by two years. earnings increase. on average. by 5' I per hour. (Round your response to four decimal places) (cl) Bob is a 31-year-old worker. Predict Bob's earnings using the estimated regression. Bob's predicted earnings are 5 per hour. (Round your response to two decimal places) [e] Compute the R2 for the regression above. The R2 for the regression above is - (Round your response to four decimal places.) Does age account for a large fraction of the variance in earnings across individuals (yesfno)? In this exercise, you will investigate the relationship between a worker's age and earnings. (Generally, older workers have more job experience, leading to higher productivity and earnings.) The following table contains data for fulltime, full-years workers, age 2534, with a high school diploma or B.A.IB.S. as their highest degree. Download the data from the table by clicking the download table icon CI . A detailed description of the variables used in the dataset is available here 0 . Use a statistical package of your choice to answer the following questions