The table below contains information on gross weekly earnings of Mr Median-Employee for 2014 - 2018. Year Gross weekly earnings () 2014 495 2015 501 2016 498 2017 510 2018 521 a). What type of dataset we have in this table: time series, cross sectional or panel data? b). Calculate the mean of Mr Median-Employee's gross weekly earnings. Explain your calculations. c) Calculate the range of Mr Median-Employee's gross weekly earnings. d). Calculate the variance of Mr Median-Employee's gross weekly earnings. Explain your calculations. e). Calculate the standard deviation of Mr Median-Employee's gross weekly earnings. Explain your calculations. A researcher decided to use data from The National Longitudinal Survey of Women 1988 (USA) to study the relationship between hourly wage and loyalty to employer (number of years spent working for the same employer). Estimating regression equation wage = a + B tenure; + & where: wage is the hourly wage measured in US dollars, tenure is the number of years spent working for the current employer and & is an error term, produced the following results: Number of observations = 526 R-squared = 0.1303 Wage Coefficient P-value (95% Conf. Intervall Tenure .182 0.000 1362 2184 Constant 4.99 0.000 4.627 5.354 f). What is the value of the OLS estimate of the coefficient on tenure? Provide an interpretation of this coefficient paying particular attention to the units of variables. g). What is the value of the OLS estimate for the intercept? Provide an interpretation of this coefficient paying particular attention to the units of variables. h). Test the hypothesis: a = 0 against a 0 using a 95% confidence interval Continued Overleaf i). Is the coefficient of the explanatory variable statistically significant? If it is, then what is the level of significance? Justify your answer by referring to the p-value. j). What percentage of variability in the hourly wage is explained by variability in number of years spent working for the same employer? How good is the model in explaining variability in hourly wages? k). Provide an estimate for the hourly wage of a person who spent 10 years working for the same employer