A large national bank charges local companies for using their services. A bank official reported the results of a regression analysis designed to predict the banks charges (Y)-- measured in dollars per month for services rendered to local companies. One independent variable used to predict service charges to a company is the company's sales revenue (X) measured in millions of dollars. Data for 21 companies who use the bank's services were used to fit the model:

Yi =0 + 1 Xi + i

The results of the simple linear regression are provided below

Y= -2,700+ 20 (Sales revenue),

S_YX=65,

two tail p value= 0.0034 (for testing 1)

Ho: 1=0

H1: 10

Interpret the p value for testing whether 1 exceeds 0

Group of answer choices

Reject H_0, there is sufficient evidence (at the = 0.05) to conclude that sales revenue (X) is a useful linear predictor of service charge (Y)

Fail to Reject H₀, there is insufficient evidence (at the = 0.05) to conclude that sales revenue (X) is a useful linear predictor of service charge (Y)

For every $1 million increase in sales revenue, you expect a service charge to increase $0.034

Sales revenue (X) is a poor predictor of service charge (Y)