The following information will be used for question B1, B2, B3, and B4. You will need to upload an explanation on how you reached the answer for each of questions in this part. A group of researchers is interested in factors affecting people's time spent sleeping. They estimated the following regression: Sleep = Bo + B. Educ + B2 Hrwage + B3 Age + B4 Age? +U where Sleep is the total night-time sleep per week in minutes for an individual: Educ is the individual's years of schooling: Hrwage is the individual's hourly wage in units of $10: Age is the individual's age Ageis the individual's age squared. QUESTION B1 [2 pts] Provide one example of an omitted variable that would bias the OLS estimate B2. Describe in which direction you think the bias will go. years, and Using the data from a sample of 130 individuals to estimate the model, we get the following result: reg sleep educ hrwage age agesa Source SS df MS 4 Model Residual 2034840.85 20535699.2 508710.212 164285.593 Number of obs F(4, 125) Prob > F R-squared Adj R-squared Root MSE 130 3.10 0.0181 0.0902 0.0610 405.32 125 Total 22570540 129 174965.427 sleep Coef. Std. Err. t P>It! [95% Conf. Interval] 0.90 0.368 - 17.08999 45.75124 educ hrwage age agesa -cons 14.33062 - 65.08614 - 33.71253 .4167106 3967.689 15.87602 20.78376 25.95117 .3197497 532.4555 -1.30 1.30 7.45 0.196 0.195 0.000 - 85.07311 -. 2161138 2913.893 17.64805 1.049535 5021.484 where educ is education, hrwage is hourly wage in units of $10, age is individual's age, and ages is squared-age. QUESTION B4 [2 pts] Using the STATA output above, test whether we can reject the null hypothesis that B1 = 14 against the alternative that B1 F R-squared Adj R-squared Root MSE 130 3.10 0.0181 0.0902 0.0610 405.32 125 Total 22570540 129 174965.427 sleep Coef. Std. Err. t P>It! [95% Conf. Interval] 0.90 0.368 - 17.08999 45.75124 educ hrwage age agesa -cons 14.33062 - 65.08614 - 33.71253 .4167106 3967.689 15.87602 20.78376 25.95117 .3197497 532.4555 -1.30 1.30 7.45 0.196 0.195 0.000 - 85.07311 -. 2161138 2913.893 17.64805 1.049535 5021.484 where educ is education, hrwage is hourly wage in units of $10, age is individual's age, and ages is squared-age. QUESTION B4 [2 pts] Using the STATA output above, test whether we can reject the null hypothesis that B1 = 14 against the alternative that B1