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 ???????????????????? = ????0 + ????1???????????????????????? + ???? where sleep is minutes spent sleeping at night per week and totwrk is total minutes worked during the week. (i) Report your results in equation form along with the number of observations and R2. What does the intercept in this equation mean? (ii) If totwrk increases by 2 hours, by how much is sleep estimated to fall? Do you find this to be a large effect?
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