Final answer:
The given hypothesis test is testing the coefficients of the independent variables in a multiple linear regression model. The null hypothesis H0 states that the coefficients for b₂, b₃, and b₄ are all equal to zero. Option C is correct.
Step-by-step explanation:
The given hypothesis test is testing the coefficients of the independent variables in a multiple linear regression model. The null hypothesis H0 states that the coefficients for b₂, b₃, and b₄ are all equal to zero. To determine whether to accept or reject H0, we can calculate the p-value.
The p-value is the probability of observing a sample result as extreme as what was observed, assuming that H0 is true. If the p-value is less than the significance level (α), we reject H0. If the p-value is greater than α, we fail to reject H0. In this case, the R-squared value of 0.829 indicates that approximately 82.9% of the variability in the dependent variable (Price) is explained by the independent variables.
To determine whether to accept or reject H0, we would need to calculate the p-value for b₂, b₃, and b₄. Since the p-value is not given, we cannot determine the outcome of the hypothesis test or the confidence interval. Therefore, the correct answer is option c) Calculate p-value.
To determine whether to accept or reject H0, we can calculate the p-value. The p-value is the probability of observing a sample result as extreme as what was observed, assuming that H0 is true.