Problem 3 Using the data in SLEEP75.RAW, we obtain the estimated equation, where
ID: 1131325 • Letter: P
Question
Problem 3 Using the data in SLEEP75.RAW, we obtain the estimated equation, where standard errors appear in parentheses below the estimated coefficients sleep-3,840.83 .163 totwrk 11.71 educ - 8.70 age (235.11) (.018) +.128 age2 87.75 male (5.86) (11.21) (.134) (34.33) n = 706, R2 = .123, R'-.117. The variable sleep is total minutes per week spent sleeping at night, totwrk is total weekly minutes spent working, educ and age are measured in years, and male is a gender dummy (-1 if male). 1) All other factors being equal, is there evidence that men sleep more than women? Is it statistically significant? 2) Is there a statistically significant tradeoff between working and sleeping? What is the estimated tradeoff? 3) From the equation, whether age has significant influence on sleep?Explanation / Answer
Answer for a
If dummy variable equals to 1 then to find whether impact of male on sleep then t value would be 87.75/34.33=2.56 hence men sleeps more is statistically significant as t value more than 2 is higher then critical value for any sample more than size of 500
Answer for B
t value for work is 0.163/0.08=16.3/8= 2.0375. This t value enough to say it is statistically significant
If work increased by 1 unit then sleep will be reduced by 0.163 units
Answer for c)
Change in sleep with respect to age is given by -8.70+.256*age
Then 8.7/0.256=34 years
For less than 34 years of age we have negative impact on sleep and positive if age is more than 34
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