Question 5 (22 points): You estimated the following model explaining "Hours per week working" as a function of education, race, ethnicity, and age. Your colleague suggested adding variables "female" and "BMI". Using theory and 3 clues, would you follow your colleague's advice? In hours log (hours working per week] lessHS dummy for having less than high school degree HighSchool dummy for having 12 years of education (high school degree or GED] SomeCollege = dummy for having 13-15 years of education College = dummy for having 16+ years of education (college degree] age = age measured in years black = dummy for being African-American and 0 otherwise hispanic = dummy for being Hispanic and 0 otherwise female = ddummy for being female omi = Body-Mess Index for an individual In wealth = log of total wealth reg In hours age black hispanic lessHS HighSchool SomeCollege college In wealth note: lessHS omitted because of collinearity Source MS Number of obs 2,979 F(7, 2971) 29.38 Model 84. 0915421 7 12 . 0130774 Prob > F 0.0000 Residual 1214.85631 2,971 . 408904849 R-squared 0.0647 Adj R-squared 0. 0625 Total | 1298.94785 2, 978 . 436181279 Root MSE 63946 In hours | Coef. Std. Err. t [954 Conf. Interval] age -. 0271907 0021043 -12.92 0.000 -. 0313167 -. 0230647 black -.0137183 . 0351797 -0.39 0. 697 -. 0826975 . 0552 608 hispanic . 1349266 . 0473766 2.85 0.004 . 0420324 2278208 lessHS (omitted) HighSchool -. 0187974 . 0357935 -0.53 0. 600 -. 0889799 . 0513851 SomeCollege -. 003033 . 0393059 -0.08 0.938 -. 0801025 - 0740365 college -. 0557817 0393793 -1. 42 0.157 -.1328952 . 0214319 In wealth -. 0071808 . 0038347 -1. 87 0.061 -. 0147077 . 00033 _Cong 4.866383 . 1178676 41.29 0.000 4. 635273 5.097494 a) (12 points) Provide interpretation and discuss statistical significance of each coefficient at 5-percent level