Suppose you estimate a population regression function

(refer to screen shot)

where Y represents the amount of insurance purchases in millions of dollars,

X₁represents the income of the buyer of insurance in thousands of dollars,

X₂is a dummy variable equaling 1 if the individual is male and

X₃, X₄and X₅represent the region of the country in which the purchaser resides (X₃= 1 if purchaser is from Northeast; X₄= 1 if purchaser is from South, X₅= 1 if purchaser is from Midwest (the omitted region is West).

Estimating this regression you obtain:

QUESTION 22 Suppose you estimate a population regression function #211: = a+o31X1+2X2 +1X3+AX4 'l's-Xs where Y represents the amount of insurance purchases in millions of dollarsr X1 represents the income of the buyer of insurance in thou sands of dollars, X2 is a dummyvariable equaling 1 ifthe individual is male and X3, X4 and X5 represent the region ofthe country in which the purchaser resides ()(3 = 1 if purchaser is from North east; X4 = 1 if purchaser is from South, X5 = 1 if purchaser is from Midwest (the omitted region is West). Estimating this regression you obtain: Regression Table Coefcient pValue tianliiiir 1.1m? Consta l1 t 0.1 5 X1 0.2 0.1 0.3 X2 0.25 0.00 50 X3 0.15 0.1 1 0.19 X4 0.05 0.09 0.01 X5 0.0}l 0.0305 From the regression above, which X variables have a signicant association with Y (assume :1 = .05 and that 95% condence intervals are shownbase your response on condence interval andfor p-values that have been provided}? '7" x1, x2, x3, x4 and x5 '5' x1, x3, and x4. "T" x2 and x5 '' None of the variables has a signicant association with Y 'A' Cannot be determined with the information given