Suppose that the sales of a company (Y) is regressed on advertising expenditure (x) and labor cost (z), and the estimated regression equation is Y = 5 + 0.5x + 0.7z + u (where u is the error term). Here, sales, advertising expenditure and labor cost are measured in million Tk. Standard error for the coefficient of x is 0.04, standard error for the coefficient of z is 0.01, and the sample size is 20. Can we conclude that advertising expenditure is a statistically significant variable?

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