Suppose the following estimated equation. Standard errors are in parentheses. Iii-mm {112.231 (0.017} {4.88) [1.45:- You are to test if the variable of X3 shows a significant positive impact on the model. Answer the followings. a. State the hypotheses. b. What is the p-value? 1:. Should the variable of X3 be included in the model? Explain. Suppose you are to estimate a simple regression for the following population model: Y=Bo + BIX + H From a population of over thousands of observations, a small number of samples were randomly selected. The following is the randomly selected sample. Observation Y X 1 2.50 25 2 3.40 32 3 3.00 29 4 3.50 20 5 3.70 33 6 3.00 29 7 2.70 28 8 2.40 22 9 2.21 22 The estimated OLS estimation is: Yhat = 1.36 + 0.06X Compute the disturbance term when X= 29. Fill in the correct answer in the blank box and if a decimal point appears, round it to Two decimal places