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For a sample of 400 firms, the relationship between house price (Yi) and the area of each house (Xi) is modeled as follows: Y_i = β_1 + β_2 × X_i + ε_i. An analyst wants to test the joint null hypothesis that β1 = 0 and β2 = 0 at the 95% confidence level. The p-value for the t-statistic for β1 is 0.07, and the p-value for the t-statistic for β2 is 0.06. The p-value for the F-statistic for the regression is 0.045. Which of the following statements is correct?
A
The analyst cannot reject the joint null hypothesis because the F-statistic is not significant at the 95% confidence level.
B
The analyst can reject the joint null hypothesis because each β is different from 0 at the 95% confidence level.
C
The analyst cannot reject the joint null hypothesis because neither β is different from 0 at the 95% confidence level.
D
The analyst can reject the joint null hypothesis because the F-statistic is significant at the 95% confidence level.