The following summary data output presents a multiple regression model that attempts to estimate the number of cases of COVID-19 as at the 20^thof March 2020 as a function of three variables:

1. The Gross Domestic Product (GDP),

2. The number of senior citizens aged of 65 years (No-SC) and

3. Whether or not the country is a member of the European Union (EU) (1 = yes and 0 = No).

Use the output presented below to answer the following:

SUMMARY OUTPUT

Regression Statistics

Multiple R 0.71 R Square 49.7% Adjusted R Square 48.2% StandardError 10887.66 Observations 105

ANOVA df SS MS F Significance F Regression 3 11843757172.26 3947919057.42 33.30 0.00 Residual 101 11972651337.40 118541102.35 Total 104 23816408509.66 Coefficients Standard t Stat P-value Lower Error 95% Upper 95% Intercept -1364.27 1488.67 -0.92 0.36 -4317.39 1588.84 GDP 0.01 0.00 5.88 0.00 0.01 0.01 No-SC -0.28 0.13 -2.10 0.04 -0.55 -0.02 EU 4708.90 2222.10 2.12 0.04 300.85 9116.94 Are all of the variables included in the model statistically significant (with alpha = 5%)? Explain fully