In Problem 3 in Chapter 3, we estimated the equationsleep = 3,638.25 – .148 totwrk – 11.13 educ + 2.20 age(5.88)(112.28) (.017)n = 706, R² = .113,where we now report standard errors along with the estimates.(1.45)(i) Is either educ or age individually significant at the 5% level against a two-sided alternative?Show your work.(ii) Dropping educ and age from the equation gives sleep = 3,586.38 – .151 totwrk(38.91) (.017)n = 706, R² = .103.Are educ and age jointly significant in the original equation at the 5% level? Justify youranswer.(iii) Does including educ and age in the model greatly affect the estimated tradeoff between sleepingand working?(iv) Suppose that the sleep equation contains heteroskedasticity. What does this mean about the testscomputed in parts (i) and (ii)?

Answered: Image /qna-images/answer/ab1fe6c4-5ed0-4894-8fd2-55a1164e945c.jpg

Answered: In Problem 3 in Chapter 3, we estimated…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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