Consider the multiple regression model shown next between the dependent variable Y and four independent variables X1, X2, X3, and X4, which result in the following function: Ý= 33 + 8X1 – 6X2 + 16X3 + 18X4 For this model, there were 35 observations; SSR= 1,432 and SSE= 600. Assume a 0.01 significance level. Based on the given information, which of the following conclusions is correct about the statistical significance of the overall model?
Consider the multiple regression model shown next between the dependent variable Y and four independent variables X1, X2, X3, and X4, which result in the following function: Ý= 33 + 8X1 – 6X2 + 16X3 + 18X4 For this model, there were 35 observations; SSR= 1,432 and SSE= 600. Assume a 0.01 significance level. Based on the given information, which of the following conclusions is correct about the statistical significance of the overall model?
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Question

Transcribed Image Text:**Multiple Choice**
- O Reject the null hypothesis that \( \beta_3 = 0 \).
- O Reject the null hypothesis that \( \beta_1 = 0 \).
- O Reject the null hypothesis that \( \beta_1 = \beta_2 = \beta_3 = \beta_4 = 0 \).
- O Do not reject the null hypothesis that \( \beta_1 = \beta_2 = \beta_3 = \beta_4 = 0 \).
![**Multiple Regression Model Analysis**
Consider the multiple regression model presented here, involving the dependent variable \( Y \) and four independent variables \( X_1, X_2, X_3, \) and \( X_4 \). The resulting function is as follows:
\[
\hat{Y} = 33 + 8X_1 - 6X_2 + 16X_3 + 18X_4
\]
For this model, 35 observations were recorded. The sum of squares for regression (SSR) is 1,432, while the sum of squares for error (SSE) is 600. The analysis assumes a significance level of 0.01.
Based on the provided information, which of the following conclusions is correct regarding the statistical significance of the overall model?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ab675ce-2e40-481e-8381-32ae8424bad9%2Fa236df8b-a6d6-4b31-aa44-4559ed7e5d6c%2Fa9blt1_processed.png&w=3840&q=75)
Transcribed Image Text:**Multiple Regression Model Analysis**
Consider the multiple regression model presented here, involving the dependent variable \( Y \) and four independent variables \( X_1, X_2, X_3, \) and \( X_4 \). The resulting function is as follows:
\[
\hat{Y} = 33 + 8X_1 - 6X_2 + 16X_3 + 18X_4
\]
For this model, 35 observations were recorded. The sum of squares for regression (SSR) is 1,432, while the sum of squares for error (SSE) is 600. The analysis assumes a significance level of 0.01.
Based on the provided information, which of the following conclusions is correct regarding the statistical significance of the overall model?
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