If you estimate a regression to calculate the components of a three factor model for a hedge fund manager (where the factors include the market, size, and value), and your coefficient on the value factor factor is positive and statistically insignificant, this means that:

a. the manager likely has exposure to growth stocks

b. the manager definitely has exposure to growth stocks

c. the manager definitely has exposure to value stocks

d. we cannot tell if the manager has exposure to growth stocks