A regression was performed on a sample of 16 observations. The estimated equatio

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A regression was performed on a sample of 16 observations. The estimated equation is Y = 23.5 - 14.28X_1 + 6.72X_2 + 5.06X_3. The standard errors for the coefficients are S_b1 = 8.2 , S_b2 = 5.6 , and S_b3 = 2.8. For this model, SST = 3809.6 and SSR = 3285.4. Test for the significance of the coefficients at the 5% level. Do you think that any of the variables should be dropped from the model Yes, X_1 and X_2 should be dropped since they are not statistically significant. Yes, X_2 should be dropped since it is not statistically significant. Yes, X_2 and X_3 should be dropped since they are not statistically significant. Yes, all should be dropped since they are not statistically significant. No, all variables should be kept since they are statistically significant.

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A regression was performed on a sample of 16 observations. The estimated equatio

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