S a. Fill in the following blank spaces that appear in this table. L. The f-statistic for b₁. ii. The standard error for b₂. iii. The estimate by. iv. R². b. Interpret each of the estimates by, by, and b. c. Compute a 95% interval estimate for p..What does this interval tell you? d. Are each of the coefficient estimates significant at a 5% level? Why? Test the hypothesis that the addition of an extra child decreases the mean budget share of alcohol by 2 percentage points against the alternative that the decrease is not equal to 2 percentage points. Use a 5% significance level. 54 Consider the following model that relates the percentage of a household's budget spent on alcohol, WALC, to total expenditure TOTEXP, age of the household head AGE, and the number of children in the household NK. WALC=B₁ + B₂ In(TOTEXP) + B,NK + BAGE+BAGE² + e Some output from estimating this model using 1200 observations from London is provided in Table 5.7. The covariance matrix relates to the coefficients by, b, and b.. 2. Find a point estimate and a 95% interval estimate for the change in the mean budget percentage share for alcohol when a household has an extra child. b. Find a point estimate and a 95% interval estimate for the marginal effect of AGE on the mean budget percentage share for alcohol when (i) AGE=25, (ii) AGE= 50, and (iii) AGE = 75. c. Find a point estimate and a 95% interval estimate for the age at which the mean budget percentage share for alcohol is at a minimum. d. Summarize what you have discovered from the point and interval estimates in (a), (b), and (c). e. Let X represent all the observations on all the explanatory variables. If (e|X) is normally distributed, which of the above interval estimates are valid in finite samples? Which ones rely on a large sample approximation? t. If (elX) is not normally distributed, which of the above interval estimates are valid in finite samples? Which ones rely on a large sample approximation?