To test hypotheses in multivariate linear regression using SAS, a t-test can be employed to evaluate whether beta1 and beta2 are equal to zero, with degrees of freedom calculated as n-3. Each variable can be tested separately, but caution is advised if x1 and x2 are highly correlated, as this may affect conclusions. The provided SAS code using PROC REG correctly sets up the model and tests for each coefficient. To save the p-values from each test to a new dataset, additional coding is needed to capture the output from the regression analysis. Proper implementation ensures accurate hypothesis testing in multivariate contexts.