the equation sleep = 3,638.25 - .148 totwrk -11.13 educ + 2.20 age (112.28) (.017) (5.88) (1.45) n= 706, R^2 = 0 .113, where we now report standard errors along with the estimates. (i) Is either educ or age individually significant at the 5% level
In Problem 3 in Chapter 3, we estimated the equation
sleep = 3,638.25 - .148 totwrk -11.13 educ + 2.20 age
(112.28) (.017) (5.88) (1.45)
n= 706, R^2 = 0 .113,
where we now report standard errors along with the estimates.
(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 - 0.151 totwrk
(38.91) (.017)
n= 706, R^2= 0.103.
Are educ and age jointly significant in the original equation at the 5% level? Justify
your answer.
(iii) Does including educ and age in the model greatly affect the estimated tradeoff
between sleeping and working?
Note: the attached image is the problem 3 in Chapter 3 mentioned in the above question. You may have to refer to it.
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