Question: Run a multiple regression with the dependent variable of quantity demanded of heating oil and the independent variables of price and income. According to your

Run a multiple regression with the dependent variable of quantity demanded of heating oil and the independent variables of price and income. According to your regression results, which of the following is false?

Group of answer choices

The absolute value of the t $-$ statistic for Price is greater than the critical value, indicating that price is statistically significant at the $5 %$ level.

Heating oil is an inferior good.

The R $-$ Square indicates a good fit of this regression line to the data.

Income is statistically significant at the $5 %$ level.

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