To investigate the tradeoff between time to work and time to sleep, the following equation is estimated: sleep 3,600+0.128totwrk -10.08educ+2.10age 6. (112.14) (0.016) n 700, R2 0.102 Standard errors are in the parentheses (1) Is either educ or age individually significant at the 5% level? Show your work (4.58) (1.35) (2) Dropping educ and age from the equation gives sleep 3,780-0.104totwrk (52.04) (0.012) 700, R2 0.099 n Are educ and age jointly significant in the original equation at the 5% level? Justify your answer

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To investigate the tradeoff between time to work and time to sleep, the
following equation is estimated:
sleep 3,600+0.128totwrk -10.08educ+2.10age
6.
(112.14) (0.016)
n 700, R2 0.102
Standard errors are in the parentheses
(1) Is either educ or age individually significant at the 5% level? Show your
work
(4.58)
(1.35)
(2) Dropping educ and age from the equation gives
sleep 3,780-0.104totwrk
(52.04) (0.012)
700, R2 0.099
n
Are educ and age jointly significant in the original equation at the 5% level?
Justify your answer
Transcribed Image Text:To investigate the tradeoff between time to work and time to sleep, the following equation is estimated: sleep 3,600+0.128totwrk -10.08educ+2.10age 6. (112.14) (0.016) n 700, R2 0.102 Standard errors are in the parentheses (1) Is either educ or age individually significant at the 5% level? Show your work (4.58) (1.35) (2) Dropping educ and age from the equation gives sleep 3,780-0.104totwrk (52.04) (0.012) 700, R2 0.099 n Are educ and age jointly significant in the original equation at the 5% level? Justify your answer
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