We want to test whether or not the addition of 3 variables to a model will be statistically significant. You are given t

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We Want To Test Whether Or Not The Addition Of 3 Variables To A Model Will Be Statistically Significant You Are Given T 1 (33.09 KiB) Viewed 10 times

We want to test whether or not the addition of 3 variables to a model will be statistically significant. You are given the following information based on a sample of 25 observations. ŷ = 62.440 - 1.839x₂ + 25.680x₂ SSE = 735; SSR = 516 The model was also estimated including the 3 variables. The results are: y = 59.220 - 1.761x₁ + 25.632x₂ +16.235x + 15.295x4-18.729x5 SSE = 530; SSR = 721 (a) State the null and alternative hypotheses. O H₁: B3 =B₁ = B ₁ = 0 H: One or more of the parameters is not equal to zero. OH₁ B₁ =B₂ =B₂ =B₁ =B₂ = 0 4 H: One or more of the parameters is not equal to zero. O H: One or more of the parameters is not equal to zero. H₂: B3 =B₁ =B5 OH: One or more of the parameters is not equal to zero. H₂: B₁ =B₁₂=B₂ =B₁ = B ₁ = 0 (b) Test the null hypothesis at the 5% level of significance. Find the value of the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to three decimal places.) p-value = Is the addition of the three independent variables significant? Do not reject H₁. We conclude that the addition of the three independent variables is not statistically significant. Reject H. We conclude that the addition of the three independent variables is statistically significant. Reject H. We conclude that the addition of the three independent variables is not statistically significant. Do not reject H. We conclude that the addition of the three independent variables is statistically significant.