In an attempt to "time the market," a financial analyst studies the quarterly returns of a stock. He uses the model y = Bo + Bidj + B2d2 + 83d3 + E where y is the quarterly return of a stock, dj is a dummy variable that equals 1 if quarter 1 and 0 otherwise, d2 is a dummy variable that equals 1 if quarter 2 and 0 otherwise, and dy is a dummy variable that equals 1 if quarter 3 and 0 otherwise. The following table shows a portion of the regression results. Standard Coefficients Error t Stat p-value Intercept 11. 51 6. 75 1. 71 0.10 d1 6. 19 9.10 -0.68 0. 50 d2 -1. 11 9. 18 -0 . 12 0.91 d3 -8.73 8 . 15 -1. 07 0. 29 a-1. Given that there are four quarters in a year, why doesn't the analyst include a fourth dummy variable in his model? O Inclusion of d4 would cause perfect multicollinearity. O Inclusion of d4 would cause changing variance. O Inclusion of d4 would cause correlated residuals. O Inclusion of d4 would cause dj to be significant.c. Reformulate the model to determine if the quarterly return is higher in quarter 1 than in quarter 2, still accounting for all quarters. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Dy = Bo + Bid1 + Bad2 + Bad4 + Dy = Bo + Bid1 + Bad3 + Bad4 + Dy = Bo + Bid1 + Bad2 + Bad3 + & Dy = Bo + Bad2 + Bad3 + Bad4 +