7. statistical versus economic significance suppose a data set of 1200 observations (n=1200) was analyzed using ols to examine the factors influencing the participation rate of employees in a 401(k) retirement plan sponsored by their employer. the regression results are as follows, with standard errors in parentheses prate= 80.1 + 001 mate +0.23 age +0.0001 totemp (0.0020) (3.0e-5) prate -percentage of eligible workers with a401(k) plan mrate - match rate for firm age age of the 401(k) plan totemp-total number of employees at the firm ·r"-0.521 note: the match rate fora firm is the amount the firm contributes to a worker's fund for each dollar the worker contributes. for exampla, if the match rate is 0.5, each time an employee contributes $1 the firm will contribute 0.5 x $1= 50 cents. is or is not? at the 1% level, with a two-sided alternative hypothesis, the coefficient on mrate- statistically different from 0. suppose mrate has a sample mean of 4% and a standard deviation of 1%, while the prate has a sample mean of 80% and a standard deviation of 49% based on the regression results, 1% increase in the mate results in a ▼in the participation rate in 401(k) plans.