47. You estimate the multiple regression Y = a + bị X1 + b2X2 + u with a large sample. Let ti be the test statistic for testing the null hypothesis b1 = 0 and t2 be the test statistic for testing the null hypothesis bɔ = 0. Suppose you test the joint null hypothesis that b1 = b2 = 0 using the principle reject the null if either t1 or t2 exceeds 1.96 in absolute value', taking ti and t2 to be independently distributed. A. The probability of error Type 1 is 5 percent in this case B. The probability of error Type 1 is less than 5 percent in this case C. The probability of error Type 1 is more than 5 percent in this case D. The probability of error Type 1 is either 5 percent, or less than 5 percent in

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The question is attached in the image. Can we actually calculate the probability of type 1 error with the given information. Please provide a matheamtical answer if possible or a complete reasoning for the answer. Thank you.

47. You estimate the multiple regression Y = a +bq X1 + 62X2 + u with a large sample. Let
ti be the test statistic for testing the null hypothesis b1 = 0 and t2 be the test statistic
for testing the null hypothesis b2 = 0. Suppose you test the joint null hypothesis that
bị = b2 = 0 using the principle 'reject the null if either tį or t2 exceeds 1.96 in absolute
value', taking tị and t2 to be independently distributed.
A. The probability of error Type 1 is 5 percent in this case
B. The probability of error Type 1 is less than 5 percent in this case
C. The probability of error Type 1 is more than 5 percent in this case
D. The probability of error Type 1 is either 5 percent or less than 5 percent in
this case
Transcribed Image Text:47. You estimate the multiple regression Y = a +bq X1 + 62X2 + u with a large sample. Let ti be the test statistic for testing the null hypothesis b1 = 0 and t2 be the test statistic for testing the null hypothesis b2 = 0. Suppose you test the joint null hypothesis that bị = b2 = 0 using the principle 'reject the null if either tį or t2 exceeds 1.96 in absolute value', taking tị and t2 to be independently distributed. A. The probability of error Type 1 is 5 percent in this case B. The probability of error Type 1 is less than 5 percent in this case C. The probability of error Type 1 is more than 5 percent in this case D. The probability of error Type 1 is either 5 percent or less than 5 percent in this case
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