In the following estimated multiple regression model, we study the amount of sleep (in minutes) an average person gets every night. Each observation is a day, and if the day is a holiday, Holiday = 1; if the day is Monday, Monday = 1. In other words, all independent variables are dummy variables. sleep = 458.5 + 8.6Holiday – 4.9Monday – 7.7Tuesday – 7.4Wednesday – 4.7 Thursday + 23.4Friday + 30.6Saturday a. Explain why Sunday is not included in the model as an independent variable. b. Explain in plain English the meaning of the intercept 458.5. Does this number make sense? c. According to the model, how much sleep does an average person get on a day that is both a Saturday and a Holiday?

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In the following estimated multiple regression model, we study the amount of sleep (in minutes) an
average person gets every night. Each observation is a day, and if the day is a holiday, Holiday = 1; if
the day is Monday, Monday =1. In other words, all independent variables are dummy variables.
sleep
= 458.5 + 8.6Holiday – 4.9Monday – 7.7Tuesday – 7.4Wednesday – 4.7 Thursday
+ 23.4Friday + 30.6Saturday
a. Explain why Sunday is not included in the model as an independent variable.
b. Explain in plain English the meaning of the intercept 458.5. Does this number make sense?
c. According to the model, how much sleep does an average person get on a day that is both a
Saturday and a Holiday?
Transcribed Image Text:In the following estimated multiple regression model, we study the amount of sleep (in minutes) an average person gets every night. Each observation is a day, and if the day is a holiday, Holiday = 1; if the day is Monday, Monday =1. In other words, all independent variables are dummy variables. sleep = 458.5 + 8.6Holiday – 4.9Monday – 7.7Tuesday – 7.4Wednesday – 4.7 Thursday + 23.4Friday + 30.6Saturday a. Explain why Sunday is not included in the model as an independent variable. b. Explain in plain English the meaning of the intercept 458.5. Does this number make sense? c. According to the model, how much sleep does an average person get on a day that is both a Saturday and a Holiday?
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