Using the same log-returns from question 7 , run a regression of the log returns on US dollars on the log returns on pounds and the log returns on Yen. Consider the full sample in answering this question. Conduct the following test: Null hypothesis : the elasticity of US dollars returns to Japanese yen returns is equal to 0.09 Alternative hypothesis : the elasticity of US dollars returns to Japanese yen returns is smaller than 0.09 The p -value for this test is : Select one:

a. 0.407121

b. 0.9098

c. 0.4549

d. 0.000

e. 0.110942