Using firm-level Indian manufacturing data, the following two alternative models of employment (EMP) are estimated: Model 1: Model 2: 1) ii) log(EMP)= 0.42 +0.0165 EXPORTS n = 1200 R2 = 0.26 iii) log(EMP) 0.48 + 0.223 log (EXPORTS) n = 1200 R = 0.28 where EMP is measured in thousands of persons and EXPORTS represents the firm's exports measured in millions of dollars. - Interpret the slope coefficient in each model. Based on Model 1 presented above, what is the predicted employment for a firm with an export of 4.82 million dollars? Which of the two model specifications do you think fit the data better and why? (4+3+2=9 marks)