Refer to the portion of regression results in the accompanying table.When testing the overall significance of the regression model at the 5% level given a critical value of ,the decision is to: A)Reject H₀ and conclude that the explanatory variables are jointly significant. B)Do not reject H₀ and conclude that the explanatory variables are jointly significant. C)Reject H₀ and conclude that the explanatory variables are not jointly significant. D)Do not reject H₀ and conclude that the explanatory variables are not jointly significant.

Question

Quizplus · Accepted Answer

The overall significance of the regression model can be tested using the F-statistic, which is calculated by dividing the explained variance by the unexplained variance. In this case, the F-statistic is 9.458 and the p-value is 0.003, which is less than the significance level of 0.05. Therefore, we reject the null hypothesis that all coefficients are equal to zero and conclude that the explanatory variables are jointly significant.

Refer to the Portion of Regression Results in the Accompanying