QUESTION 1 Jobtenure is the length of time an employee has worked for his/her employer. You would like to investigate the effect of job tenure of employees on their weekly wage rates. 8. Write the econometric model. Clearly define each of your variables that appear in your Cquation. b. Explain how the explanatory variable is expected to affect the dependent variable. QUESTION 2 In the model of job tenure-weekly wage rates as in question 1, a sample of data of 274. observations is collected and it produces the following sample information, where T=jub tenure (years) and W=weekly wage rate (dollar): Σ' = 1945.26: ΣΤ=1774: Σ' =18536.73: ΣΤ' = 30608; ΣΤ' =16040.72 a. Estimate the model using the OLS method. Show your calculations. Write your estimated regression equation. b. Interpret the estimated slope coefficient which you have obtained.