Problem 3.1

In this problem we consider the model

"sales" = β₀ + β₁⋅ "TV" + β₂⋅ "radio" + β₃ ⋅ "newspaper" + ε,

where the predictors are investments of money in different types of advertisement and the response is the money earned in sales. The parameters  β₀ , β₁,  β₂, and β₃, have been identified. The parameter estimates and their statistical properties are reported in Table 3.4.


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Describe the null hypotheses to which the p-values given in Table 3.4 correspond. Explain what conclusions you can draw based on these p-values. Your explanation should be phrased in terms of sales, TV, radio, and newspaper, rather than in terms of the coefficients of the linear model
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