3. (5p) Suppose that you are interested in testing a joint null hypothesis consisting of three restrictions, say = = 3 0 in multiple regression. Assume that you have three 2 = individual t-statistics for ; = 0, where j = 1,2,3. Consider the following testing procedure: reject the joint null hypothesis if at least one of t-statistics exceeds 1.96 in absolute value. If t-statistics are independent of each other, what is the probability of rejecting the joint null hypothesis when it is true?