When testing linear restrictions, the test statistic is assumed to follow the equation y = β0 + β1x1 + β2x2 + ε. You wish to test H0: β1 = β2 = 0 versus HA: Not all slopes are 0. The value of the test statistic is F(1,30) = 7.75 and its associated p-value is 0.0092. At the 1% significance level, the conclusion is to:
- not reject the null hypothesis and conclude that the influence of x1 and x2 on y is significant
- not reject the null hypothesis and conclude that the influence of x1 and x2 on y is not significant
- reject the null hypothesis and conclude that the influence of x1 and x2 on y is not significant
- reject the null hypothesis and conclude that the influence of x1 and x2 on y is significant