Question: How do I solve this? 3. (12 points) You study whether there is a trade-off between the time spent sleeping per week and the time
How do I solve this?

3. (12 points) You study whether there is a trade-off between the time spent sleeping per week and the time spent in paid work. Two variables of interest are the dependent variable, minutes spent sleeping at night per week (sleep), and an explanatory variable, total minutes worked during the week (tope#). The following simple regression is estimated using data on *=706 people: sleep =3,586.4-0.148forwrk R- = 0.021 (a) Interpret the coefficient on tomy* clearly (3 points). (b) If toturk increases by 3 hours, by how much is sleep estimated to fall? (3 points). (c) Would you say torwork explain much of the variation in sleep? Why or why not? Explain clearly (3 points) (d) Agree or disagree with the following statement, and explain clearly: "The homoskedasticity assumption plays a key role in providing an unbiased estimator of the ceteris paribus relationship between totwo and sleep?" (3 points)
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