A simple linear regression model has been developed and an F test is going to be conducted to determine whether the model is statistically signicant. Select whether each statement about the F test is correct or not correct. Correct Not correct a) The F test is a twotail test. 0 O b) The F test assesses whether the parameter [31 is 0. O O c) The test statistic used in the F test is the ratio of the regression sum of squares and the error sum of squares. O O An investor plans to develop a regression model for the appraisal value {in thousands of dollars) of property in her city [Y] based on 5 numerical variables: Y = Bo + BLXL + 32K: + Bsxs + I34X4 + Bsxs + E The investor would like to test whether or not the model has any signicance. That is, she would like to test the hypotheses: Hoil31=|32=i33=i34=l35=0 HA: not all [31- are zero A sample of 30 items are drawn and the data is used to create the prediction equation: y = b0 + bixi + bzxz + b3x3 + b4x4 + b5x5 The regression sum of squares {55R} is calculated to be 233.0 and the error sum of squares (SSE) is calculated to be 541.9. An F test is conducted to test the above hypotheses. a) Calculate the test statistic (F) for this test. Give your answer to 2 decimal places. b) with a 95% level of confidence, the investor reject the null hypothesis