Final answer:
The reticular formation coordinates arousal and sleep, and is involved in blood pressure regulation and pain modulation. The medulla oblongata contains clusters of neurons that regulate blood pressure, and the pons connects the hindbrain to the rest of the brain and regulates brain activity during sleep.
Step-by-step explanation:
The reticular formation is the network in the brain that coordinates arousal and sleep, and it is also involved in regulating blood pressure and pain modulation. It spans both the midbrain and the hindbrain. The medulla oblongata is a part of the brainstem and contains clusters of neurons that regulate blood pressure.
On the other hand, the pons serves to connect the hindbrain to the rest of the brain and is involved in regulating brain activity during sleep.