5. On Testing: (12 points in total) You have a cross-sectional dataset on employment and wage information for 30 em- ployees of "Men's and Boys' Furnishings" (i.e., N = 30). Table 1 describes the variables included in the dataset. Table 1: Data of Men's and Boys' Furnishings Variable Definition wage hourly wage expe work experience gender gender (1 means male; 0 means female) After running the regression, the estimated equation is as follows. The standard errors are presented in brackets. wage = 0.02 + 0.15 . expel.24 . gender, (0.40) (0.10) (0.08) SSE = 1.024, where wage stands for the estimated wage, and SSE stands for the sum of squares of errors. (a). Implement a test to examine if the hourly wage of men is the same as the hourly wage of women. (b). Implement a test to examine the joint significance of the coefficients of expeand gender. The following information might be useful. Restricted Model: wage = 0.08, (0.70) SSE = 1.432