Regression Analysis Using the Excel file Weddings, apply the Excel Regression tool using the wedding cost as the dependent variable and the couple's income as the independent variable, only for those weddings paid for by the bride and groom. a. Interpret all key regression results, hypothesis tests, and confidence intervals in the output. b. Analyze the residuals to determine if the assumptions underlying the regression analysis are valid. c. Use the standard residuals to determine if any possible outliners exist. d. If a couple makes $70,000 together, how much would they probably budget for the wedding? Weddings Couple's Income $130,000 $157,000 $98,000 $72,000 $86,000 $90,000 $43,000 $100,000 $65,000 $78,000 $73,000 $75,000 $64,000 $67,000 $75,000 $67,000 $62,000 $75,000 $52,000 $64,000 $55,000 $53,000 $62,000 $40,000 $45,000 Bride's age 22 23 27 29 25 28 19 30 24 35 25 27 25 27 25 30 21 19 23 22 28 31 24 26 32 Payor Bride's Parents Bride's Parents Bride & Groom Bride & Groom Bride's Parents Bride & Groom Bride & Groom Bride & Groom Bride's Parents Bride & Groom Bride's Parents Bride & Groom Bride's Parents Groom's Parents Bride's Parents Bride's Parents Groom's Parents Bride's Parents Bride's Parents Bride's Parents Bride's Parents Bride & Groom Bride's Parents Bride's Parents Bride & Groom Wedding cost $60,700.00 $52,000.00 $47,000.00 $42,000.00 $34,000.00 $30,500.00 $30,000.00 $30,000.00 $28,000.00 $26,000.00 $25,000.00 $24,000.00 $24,000.00 $22,000.00 $20,000.00 $20,000.00 $20,000.00 $19,000.00 $19,000.00 $18,000.00 $16,000.00 $14,000.00 $13,000.00 $7,000.00 $5,000.00 Attendance 300 350 150 200 250 150 250 300 250 200 150 200 200 200 200 200 100 150 200 150 100 100 150 50 50 Value Rating 3 1 3 5 3 3 3 3 3 5 5 5 1 5 5 5 1 3 1 1 5 1 1 3 5