You recently performed a multi-factor regression analysis on Manager XYZ. You regressed the manager's returns against a 4-factor model (S&P, SMB, HML, MOM) and obtained the regression results below. Based on the information below, what would indicate that the manager exhibits skill?

Coefficients Standard Error t-Stat

Intercept 0.002758093 0.001023574 2.694570970

S&P 500 0.703765857 0.064143998 10.97165556

SMB 0.259197277 0.061331481 4.226170215

HML 0.550194377 0.071207376 7.726648696

MOM -0.194521181 0.041700916 -4.664674093

Group of answer choices:

Intercept coefficient is positive and statistically significant at a high level of confidence

S&P factor coefficient is positive and statistically significant at a high level of confidence

SMB factor coefficient is positive and statistically significant at a high level of confidence

HML factor coefficient is positive and statistically significant at a high level of confidence

MOM coefficient is negative and statistically significant at a high level of confidence