Please Solve the following in details !

The Following model studies the trade-off between productivity and other factors affecting productivity. prod;= Bo + Bieduc; + Bzage; + B3 sleep; + u Where sleep is measured in minutes per week, age and educ are measured in years, and prod (productivity) is measured as the dollar value of output produced per week. Part 1: a) If we assume that adults trade off sleep for more hours of production, what would be the expected sign of B3? b) What signs do you think 1 and 32 will have, explain why? c) Part 2: Using the data available from productivity.xls to run the regression specified above: 1. Write down the regression equation. 2. Interpret the parameters estimated in the regression equation. 3. Are the coefficients statistically significant? Does B3 have the expected sign as described in (a)? Explain why? 5. How well does the estimated regression equation fit the data? Hint: Explain the R- squared. (1 mark) 6. If you desire to test the following hypothesis: HO: B2 = 0 and B3 = 0 6.1 Write down the equation for the restricted model (in an abstract way). 6.2 Test the hypothesis stated and explain how to get the critical value using excel functions. The Following model studies the trade-off between productivity and other factors affecting productivity. prod;= Bo + Bieduc; + Bzage; + B3 sleep; + u Where sleep is measured in minutes per week, age and educ are measured in years, and prod (productivity) is measured as the dollar value of output produced per week. Part 1: a) If we assume that adults trade off sleep for more hours of production, what would be the expected sign of B3? b) What signs do you think 1 and 32 will have, explain why? c) Part 2: Using the data available from productivity.xls to run the regression specified above: 1. Write down the regression equation. 2. Interpret the parameters estimated in the regression equation. 3. Are the coefficients statistically significant? Does B3 have the expected sign as described in (a)? Explain why? 5. How well does the estimated regression equation fit the data? Hint: Explain the R- squared. (1 mark) 6. If you desire to test the following hypothesis: HO: B2 = 0 and B3 = 0 6.1 Write down the equation for the restricted model (in an abstract way). 6.2 Test the hypothesis stated and explain how to get the critical value using excel functions