Review Concept 5.1 Consider the regression model below and let (X;, Y;) , /= 1,..., n be an i.i.d. set of observations. Y; = Bo + B1Xi+ ui Specify

XiYiin

Review Concept 5.1Consider the regression model below and let (X;, Y;) , /= 1,..., n be an i.i.d. set of observations.Y; = Bo + B1Xi+ uiSpecify the order of the 3 steps required to test the null hypothesis that the slope coefficient /, equals zero? That is,Ho: B1 = 0A. Compute the p - value, Pry, (|t| > | /act ().B. Compute the standard error of the estimated slope coefficient s, ". SE ( #, cf ) - earactC. Compute the t- stastistic, t=B1 -0SE B,(Enter 1, 2 or 3 in each box)Enter your answer in the edit fields and then click Check Answer.