(0.13) cost = 7311.17 + 3985.20 Reputation - 0.20 x Size (664.58) +8406.79 x Dpriv 416.38 x Dlibart - 2376.51 x Dreligion (2154.85) (1121.92) (1007.86) R2 = 0.72, SER = 3,773.35 where Cost is Tuition, Fees, Room and Board in dollars, Reputation is the index used in U.S. News and World Report (based on a survey of university presidents and chief academic officers), which ranges from 1 ("marginal") to 5 ("distinguished"), Size is the number of undergraduate students, and Dpriv, Dlibart, and Dreligion are binary variables indicating whether the institution is private, a liberal arts college, and has a religious affiliation. The numbers in parentheses are heteroskedasticity-robust standard errors. Indicate whether or not the coefficients are significantly different from zero at the 5% level (assume 2 tailed alternative). Select one or more: a. Reputation b. Size c. Dpriv d. Dlibart e. Dreligion What is the p-value for the null hypothesis that the coefficient on Size is equal to zero (2-tailed test)? You want to test simultaneously the hypotheses that Bsize = 0 and BDilbert = 0. Your regression package returns the F- statistic of 1.23. Can you reject the null hypothesis at the 5% level? Select one: a. Yes b. No Eliminating the size and Dlibart variables from your regression, the estimation regression becomes A cost = 5,450.35 + 3538.84 x Reputation + 10,935.70 x Dpriv (590.49) (875.51) -2783.31 x Dreligion (1.180.57) R2 = 0.72, SER = 3,792.68 Why do you think that the effect of attending a private institution has increased now? Be more specific than "omitted variable bias" You give a final attempt to bring the effect of Size back into the equation by forcing the assumption of homoskedasticity onto your estimation. The results are as follows: cost = 7311.17 + 3985.20 x Reputation - 0.20 x Size (593.65) (0.07) +8406.79 x Dpriv 416.38 x Dlibart 2376.51 x Dreligion (1423.59) (1096.49) (989.23) R2 = 0.72, SER = 3,682.02 Calculate the t-statistic on the Size coefficient and perform the hypothesis test that its coefficient is zero. Is this test reliable? Explain. (0.13) cost = 7311.17 + 3985.20 Reputation - 0.20 x Size (664.58) +8406.79 x Dpriv 416.38 x Dlibart - 2376.51 x Dreligion (2154.85) (1121.92) (1007.86) R2 = 0.72, SER = 3,773.35 where Cost is Tuition, Fees, Room and Board in dollars, Reputation is the index used in U.S. News and World Report (based on a survey of university presidents and chief academic officers), which ranges from 1 ("marginal") to 5 ("distinguished"), Size is the number of undergraduate students, and Dpriv, Dlibart, and Dreligion are binary variables indicating whether the institution is private, a liberal arts college, and has a religious affiliation. The numbers in parentheses are heteroskedasticity-robust standard errors. Indicate whether or not the coefficients are significantly different from zero at the 5% level (assume 2 tailed alternative). Select one or more: a. Reputation b. Size c. Dpriv d. Dlibart e. Dreligion What is the p-value for the null hypothesis that the coefficient on Size is equal to zero (2-tailed test)? You want to test simultaneously the hypotheses that Bsize = 0 and BDilbert = 0. Your regression package returns the F- statistic of 1.23. Can you reject the null hypothesis at the 5% level? Select one: a. Yes b. No Eliminating the size and Dlibart variables from your regression, the estimation regression becomes A cost = 5,450.35 + 3538.84 x Reputation + 10,935.70 x Dpriv (590.49) (875.51) -2783.31 x Dreligion (1.180.57) R2 = 0.72, SER = 3,792.68 Why do you think that the effect of attending a private institution has increased now? Be more specific than "omitted variable bias" You give a final attempt to bring the effect of Size back into the equation by forcing the assumption of homoskedasticity onto your estimation. The results are as follows: cost = 7311.17 + 3985.20 x Reputation - 0.20 x Size (593.65) (0.07) +8406.79 x Dpriv 416.38 x Dlibart 2376.51 x Dreligion (1423.59) (1096.49) (989.23) R2 = 0.72, SER = 3,682.02 Calculate the t-statistic on the Size coefficient and perform the hypothesis test that its coefficient is zero. Is this test reliable? Explain