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2. Suppose we are interested in the cross-country relationship between life expectancy and GDP per capita. We have a dataset for 2018, in which the unit of life expectancy (lexp) is 1 year, and GDP per capita (gappc) is measured in thousand international dollars (which corrects for inflation and cross-country price differences). We want to estimate the following regression equation: lexpi = Bo + Bigappci + Wi. We have the following information: 1 N N L gappci = 18.94 IMz Clerpi = 72.66 N _ gappci x lexpi = 1474.63 N ~_ gappc? = 766.69, i= 1 where N refers to the number of observations in the dataset. (a) (1 point) Calculate the OLS estimates of the regression coefficients. (b) (1 point) Suppose the software reports the standard errors SE(Bo) = 0.635 and SE(B1) = 0.023. What is the conventional way of reporting the regression? Inter- pret, with units, the coefficient B1 in the regression. (c) (1 point) One asserts that the slope should be 0.2. We want to test this hypothesis. Formally write down the null hypothesis and the two-sided alternative. What is the t-statistic for the test? Can we reject the null hypothesis at 5% significance level? (d) (1 point) Suppose the hypothesis is Ho : B1 = K VS. H1 : B1 # K for some constant K. What are the values of