The following equation explains weekly hours of television viewing by a child in terms of the child's age, mother's education, father's education, and number of siblings:
tvhours* 5 b0 1 b1age 1 b2age2 1 b3motheduc 1 b4 fatheduc 1 b5sibs 1 u.
We are worried that tvhours* is measured with error in our survey. Let tvhours denote the reported hours of television viewing per week.
(i) What do the classical errors-in-variables (CEV) assumptions require in this application?
(ii) Do you think the CEV assumptions are likely to hold? Explain.