From annual data for the years 1968–1987, the following regression results were obtained:

Ŷ_t = −859.92 + 0.6470X_2t − 23.195X_3t R² = 0.9776 ……… (1)

Ŷ_t = −261.09 + 0.2452X_2t R² = 0.9388 …….....................… (2)

where Y = U.S. expenditure on imported goods, billions of 1982 dollars, X₂ = personal disposable income, billions of 1982 dollars, and X₃ = trend variable. True or false: The standard error of X₃ in (1) is 4.2750. Show your calculations.