Consider the Following to Answer the Question(s) Below

Multiple Choice

Consider the following to answer the question(s) below:
A Toronto accounting firm estimated a model to explain variation in client profitability. The dependent variable is client net profits and the predictor variables include the hours spent working on the client and indicator variables to denote the type of client-manufacturing, service, or government. The indicator variables have a value of one if the client is the type described. The following are the model results.
-At α = 0.05, which of the following statements is not correct?

A) The overall regression model is significant in explaining net profits.
B) The number of hours spent on a client is not significant in explaining variation in client profitability.
C) The indicator variables for client type are significant in explaining variation in client profitability.
D) The regression model explains about 70% of the variation in client profitability.
E) The number of hours spent on a client is significant in explaining variation in client profitability.