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Suppose you want to test whether X2 and X: can jointly explain Y in the following regression model: Y =Bo+ BIX1 + B2X2 + B3X3 + u You obtain data for 85 observations and conduct a joint test of significance at 1% level. Your restricted model is given by, OY = Bo + BIX1+ B3X3 +u OY = Bo+ BIXitu OY = Bot u OY = Bo + B3X3 + u Question 6 (0.5 points) Consider the following equation of salaries of Chief Executive Officers (SALARY) on annual firm sales (SALES), return on equity (ROE, in percentage form) and return on the firm's stock (ROS, in percentage form): log(SALARY) = 4.32 +0.280 log(SALES) +0.0174ROE +0.00024ROS (0.32) (0.035) (0.0081) (0.00054) 1 = 209 R = 0.283 The standard errors are in parentheses. If you wanted to test whether the three independent variables are jointly statistically significant, which of the following statements would be correct with regard to your test outcome? ()The calculated value of F is 41.27 and the null hypothesis is rejected at 1% level. The calculated value of F is 34.78 and the null hypothesis is rejected at 5% level. The calculated value of F is 26.97 and the null hypothesis is rejected at 1% level. The test remains inconclusive