Consider the results in Table 5. After running the regression, we test whether the variables onwer and hhinc are jointly statistically significant at 5%. The value of the F-statistic is 323.27. Note that the sample size is 1,593. What is the outcome of the test? Would it be correct to reject the null hypothesis if either the t-statistic for hhinc or the t-statistic for owner exceeded 1.96 in absolute value? Explain

The questions below are based on a dataset containing the characteristics of 5,407 households. In particular, we will use the following variables: - size: home size, measured in square feet. hhinc: annual household net income, measured in euros. - owner. dummy variable equal to 1 if the living space is owned, and 0 if the living space is rented. hhsize1: dummy variable equal to 1 if the number of household's members is 1 or 2, and 0 otherwise. - hhsize2: dummy variable equal to 1 if the number of household's members is 3 or 4, and 0 otherwise. hhsize3: dummy variable equal to 1 if the number of household's members is 5 or above 5, and 0 otherwise. - edu: education level of household's members. The Appendix contains tables with the critical values of the standard normal distribution and the F distribution.Table 5 . regress size hhine owner hhsizel hhsized hasized, robust moconstant Linear regression Number of obs 1, 593 F(5, 1588) 3895.70 Proba F 0. 080 R-squared 0.9255 Root MSE 353.16 Robust size Coefficient std. err. P>ItI (95% conf. interval] hhinc . 004567 HIT HIT .9058845 owner 404. 7925 442- 6217 hhsizel 675.8086 24.24222 27.88 628.2585 723.3587 hhsize? 788.6606 36.47628 21. 62 717 . 1138 860.2073 hhsize! 993.6609 58 .63294 16.95 878.6548 1108.667