Put the following steps of the model-building process in the order in which it would be statistically most appropriate to do them:

(i)Estimate model

(ii) Conduct hypothesis tests on coefficients

(iii) Remove irrelevant variables

(iv) Conduct diagnostic tests on the model residuals.

1. (i) then (ii) then (iii) then (iv)
2. (i) then (iv) then (ii) then (iii)
3. (i) then (iv) then (iii) then (ii)
4. (i) then (iii) then (ii) then (iv)