Use the following model for questions 7-8 experience =B, + B, (education)+u 7. Interpret P. (5 points) 8. Interpret B. (5 points) Use the following model for questions 9-14 (let average looks be defined as those with a rating of 3) In (wage)= 8, + B. above averagelooks |+ B, belowaverage looks |+ 8, In (educ)|+ B, (exper)+ B;(c)+ Be 9. Estimate the model (write out the estimated equation) and include your regression output below. 10. Interpret B; (5 points) 11. Interpret B, (5 points) 12. Do above average looking people get paid differently than average looking people? Explain. (10 points 13. Do below average looking people get paid differently than average looking people? Explain. (10 points 14. Interpret the R-squared (5 points) The following comes from estimating a regression looking at factors that influence college GPA (colGPA), on a 4-point scale. Independent variables include score on SAT (set), total credit hours (tothrs), dummy variable if student-athlete (athlete), size of high school (hsize), high school rank (hsrank), dummy variable