Can you please assist me with each step of the question posed

A regression of number of high school seniors who apply for admission to a college over 22 years (1980 - 2002) produced the following results (standard errors in parenthesis):

_t = 150 + 180A_t + 150T_t + 30.0P_t

(90.0)(1.50)(60.0)

R² = 0.50N=22 (annual)

Where:

_t = the number of high school seniors who apply for admission in year t

A_t = the number of people on the admission staff who visit high schools full time spreading information about the school in year t

T_t = cost of tuition (in dollars) in year t (adjusted for inflation)

P_t = the percent of the faculty in year t that had PhDs in year t

a.Interpret the R²

b.Interpret each of the three coefficient estimates.

c.Test each parameter estimate for statistical significance at a five percent significance level. (Note: critical values of t-distribution given on last page)