TABLE 14-4

A real estate builder wishes to determine how house size (House) is influenced by family income (Income), family size (Size), and education of the head of household (School). House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years. The builder randomly selected 50 families and ran the multiple regression. Microsoft Excel output is provided below:

SUMMARY OUTPUT

Regression Statistics

Multiple R0.865

R Square0.748

Adjusted R Square0.726

Standard Error5.195

Observations50

ANOVA

dfSSMSFSignif F

Regression33605.7736901.44340.0001

Residual461214.226426.9828

Total494820.0000

CoeffStdErrort StatP-value

Intercept- 1.63355.8078- 0.2810.7798

Income0.44850.11373.95450.0003

Size4.26150.80625.2860.0001

School- 0.65170.4319- 1.5090.1383

Referring to Table 14-4, which of the following values for thelevel of significanceis the smallest for which all explanatory variables are significant individually?

a)0.01

b)0.025

c)0.05

d)0.15

I know the answer is D, but how do we determine this? Thank you!