Question: Please help me with solving questions ( a) and ( b) . Provide the steps to get to the final solution. THANKS a lot! Consider

Please help me with solving questions (a) and (b). Provide the steps to get to the final solution. THANKS a lot!

Consider the linear model y: = 50 + ,3121 + 11,-, where y stands for wage, a: for education {years of schooling} and u is an error term. Assuming that the three DLS assumptions hold, we want to estimate the parameter ,8] using DLS. {a} Derive the OLE estimators for u) and ,8] and interpret them. {b} Show that ,3] is unbiased. Is the estimator aho consistent

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