Use the data in SLEEP75.RAW from Biddle and Hamermesh (1990) to study whether there is a tradeoff between the time spent sleeping per week and the time spent in paid work. We could use either variable as the dependent variable. For concreteness, estimate the model

sleep 5 b 0 1 b 1 totwrk 1 u ,

where sleep is minutes spent sleeping at night per week and totwrk is total minutes worked during the week.

Report your results in equation form along with the number of observations and

R 2 . What does the intercept in this equation mean?

If totwrk increases by 2 hours, by how much is sleep estimated to fall? Do you find this to be a large effect?

Jodi is trying to save money for a down payment on a house. she invests $6,000 into an account paying 5.5% simple interest. for how long must she save if she needs $7,300 for the down payment? a. 2 years b. 3 years c. 4 years d. 5 years

Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis.b)reject the null hypothesis and conclude the mean is higher than $6,000 per day.c)reject the null hypothesis and conclude the mean is lower than $6,000 per day.d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day.expert answer

Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate