The following linear demand specification is estimated for Conlan Enterprises, a price-setting firm:

Q = a + bP + cM + dP_R

whereQis the quantity demanded of the product Conlan Enterprises sells,Pis the price of that product,Mis income, andP_Ris the price of a related product. The results of the estimation are presented below:

DEPENDENT VARIABLE:	Q	R-SQUARE	F-RATIO	P-VALUE ON F
OBSERVATIONS:	32	0.7984	36.14	0.0001
VARIABLE		PARAMETER ESTIMATE	STANDARD ERROR	T-RATIO	P-VALUE
INTERCEPT		846.3000	76.7000	11.03	0.0001
P		-8.6000	2.6000	-3.31	0.0026
M		0.0184	0.0048	3.83	0.0007
PR		-4.3075	1.2300	-3.50	0.0016

Given the above, at the 1% level of significance, which estimates are statistically significant? How do you determine significance?

a.

Onlyais statistically significant

b.

All are statistically significant

c.

All butbanddare statistically significant

d.

Onlya,bandare statistically significant

e.

All butaare statistically significant