A researcher is using data for a sample of 3240 female employees 25 years of age and over to investigate the relationship between employees’ hourly wage rates Yi (measured in dollars per hour) and their age Xi (measured in years). The population regression equation takes the following form Yi = β0 + β1Xi + εi . Preliminary analysis of the sample data produces: n = 3240, Xn i=1 YiXi = 1085400, Xn i=1 Yi = 35640, Xn i=1 Xi = 97200, Xn i=1 Y 2 i = 4943227, Xn i=1 X 2 i = 2997000 Use the above sample information to answer all the following questions. Show all steps of calculations. (a) Use the above information to compute βˆ 0 and βˆ 1. (b) Interpret the slope coefficient estimate you calculated in part (a) – i. e., explain in words what the numeric value you calculated for βˆ 1 means.