Use the following information to answer the question(s) below.Ford would like to develop a regression model that would predict the number of cars sold per month by a dealership employee based on the employee's number of years of sales experience (Exp), the employee's weekly base salary before commissions (Salary), and the education level of the employee. There are three levels of education in the sales force-high school degree, associate's degree, and bachelor's degree. The following dummy variables have been defined.
The following Excel output shows the partially completed regression output from a random sample of employees from the previous month.
Which one of the following statements describes the results of the hypothesis test for the overall regression model using
α = 0.05?
▸ Because the test statistic is greater than the critical value, we reject the null hypothesis and conclude that there is a relationship between the dependent variable and the independent variables.
▸ Because the test statistic is greater than the critical value, we fail to reject the null hypothesis and conclude that there is a relationship between the dependent variable and the independent variables.
▸ Because the test statistic is less than the critical value, we fail to reject the null hypothesis and conclude that there is no relationship between the dependent variable and the independent variables.
▸ Because the test statistic is less than the critical value, we reject the null hypothesis and conclude that there is no relationship between the dependent variable and the independent variables.
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