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Suppose you are interested in studying the relationship between education and wage. More specifically, suppose that you believe the relationship to be captured by the following linear regression model, Wage = bo+By Education + u Suppose further that the only unobservable that can possibly affect both wage and education is intelligence of the individual. OLS assumption (1): The conditional distribution of u; given X, has a mean of zero. Mathematically, E(u;IX= 0. Which of the following provides evidence in favor of OLS assumption #1? (Check all that apply) A. corr(Intelligence, Education)*0. B. E(Intelligence Education = x) = E(Intelligence Education = y) for all x + y. C. corr(Intelligence, Education) = 0. D. covariance(Intelligence, Education) * 0. Which of the following provides evidence against of OLS assumption #1? (Check all that apply) A. covariance(Intelligence, Education) # 0. B. E(Intelligence Education = x) = E(Intelligence Education = y) for all x#y. C. corr(Intelligence, Education) = 0. OD. corr(Intelligence, Education)*0. OLS assumption (2): (X;, Y7), i = 1,..., n are independently and identically distributed. Suppose you would like to draw a sample to study the effect of education on wage. Which of the following provides evidence in favor of OLS assumption #2? (Check all that apply) A. A random sample is drawn from a population of college graduates. B. A sample consisting of a group of college students is drawn repeatedly each year over the course of their college careers. C. corr(Intelligence, Education) = 0. OD. A sample consisting of all honor students is drawn from a population of college graduates. Suppose you would like to draw a sample to study the effect of education on wage. Which of the following provides evidence against OLS assumption #2? (Check all that apply) A. A random sample is drawn from a population of college graduates. B. corr(Intelligence, Education) = 0 OC. Observations consisting of the same group of college students are drawn repeatedly each year over the course of their college careers MD. A sample consistina of all honor students is drawn from a population of colleae araduates. E