The table below provides the results of a regression of Y= Hourly Wages in TL on X= Union Membership (if person i is a union member, then Xi=1, zero otherwise. The values in parenthesis are standard errors of coefficients a) Suppose that we were to regress wage on nonmembership instead, where nonmember =1 if the person i is a nonmember, zero otherwise. Write down the estimated regression equation we would get. b) Using the scenario in (a), indicate how standard error of slope coefficient would adjust and indicate how R2 and standard error of residuals would adjust c)Let's go back to our original regression table. Now, we want to modify our dependent variable Hourly Wage to Monthly Wage. Assume that an employee works 8 hours in a day and there are 22 workdays in a month. Write down the regression equation we would get. The table below provides the results of a regression of Y= Hourly Wages in TL on X= Union Membership (if person i is a union member, then Xi=1, zero otherwise. The values in parenthesis are standard errors of coefficients a) Suppose that we were to regress wage on nonmembership instead, where nonmember =1 if the person i is a nonmember, zero otherwise. Write down the estimated regression equation we would get. b) Using the scenario in (a), indicate how standard error of slope coefficient would adjust and indicate how R2 and standard error of residuals would adjust c)Let's go back to our original regression table. Now, we want to modify our dependent variable Hourly Wage to Monthly Wage. Assume that an employee works 8 hours in a day and there are 22 workdays in a month. Write down the regression equation we would get