Use the Regression tool on the accompanying wedding data, using the wedding cost as the dependent variable and attendance as the independent variable. Complete parts a through c. Click the icon to view the wedding data. COLLE a. What is the regression model? Wedding Cost = x Attendance (Round to three decimal places as needed.) b. Interpret the slope, Y-intercept and the coefficient of determination from part a. Interpret the slope of the regression equation. Choose the correct answer below. A. The slope indicates that for each increase of 1 in wedding cost, the predicted attendance is estimated to increase by a value equal to b. OB. It is not appropriate to interpret the slope because it is outside the range of observed attendances. OC. The slope indicates that for each increase of 1 in attendance, the predicted wedding cost is estimated to increase by a value equal to b OD. It is not appropriate to interpret the slope because it is outside the range of observed wedding costs. Interpret the Y-intercept of the regression equation. Choose the correct answer below. A. It is not appropriate to interpret the Y-intercept because it is outside the range of observed wedding costs. OB. It is not appropriate to interpret the Y-intercept because it is outside the range of observed attendances. Interpret the Y-intercept of the regression equation. Choose the correct answer below. OA. It is not appropriate to interpret the Y-intercept because it is outside the range of observed wedding costs, B. It is not appropriate to interpret the Y-intercept because it is outside the range of observed attendances. OC. The Y-intercept indicates that a wedding with an attendance of 0 people has a mean predicted cost of Sbg D. The Y-intercept indicates that a wedding with a cost of $0 has a mean predicted attendance of by people. Identify and interpret the meaning of the coefficient of determination in this problem. Select the correct choice below and fill in the answer box to complete your choice. (Round to three decimal places as needed.) This value is the probability that the slope of the regression line is statistically significant This value is the probability that the correlation between the variables is statistically significant. OA The coefficient of determination is R B. The coefficient of determination is R2 C. The coefficient of determination is t OD. The coefficient of determination is R This value is the proportion of variation in attendance that is explained by the variation in wedding cost. This value is the proportion of variation in wedding cost that is explained by the variation in attendance. c. If a couple is planning a wedding for 175 guests, how much should they budget? They should budget $ (Round to the nearest dollar as needed.) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 A Wedding Cost 61700 53000 47000 43000 32000 32000 29500 28000 28000 26000 25000 24000 24000 22000 22000 21000 21000 20000 20000 17000 15000 14000 12000 7000 5000 B 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 Use the Regression tool on the accompanying wedding data, using the wedding cost as the dependent variable and attendance as the independent variable. Complete parts a through c. Click the icon to view the wedding data. COLLE a. What is the regression model? Wedding Cost = x Attendance (Round to three decimal places as needed.) b. Interpret the slope, Y-intercept and the coefficient of determination from part a. Interpret the slope of the regression equation. Choose the correct answer below. A. The slope indicates that for each increase of 1 in wedding cost, the predicted attendance is estimated to increase by a value equal to b. OB. It is not appropriate to interpret the slope because it is outside the range of observed attendances. OC. The slope indicates that for each increase of 1 in attendance, the predicted wedding cost is estimated to increase by a value equal to b OD. It is not appropriate to interpret the slope because it is outside the range of observed wedding costs. Interpret the Y-intercept of the regression equation. Choose the correct answer below. A. It is not appropriate to interpret the Y-intercept because it is outside the range of observed wedding costs. OB. It is not appropriate to interpret the Y-intercept because it is outside the range of observed attendances. Interpret the Y-intercept of the regression equation. Choose the correct answer below. OA. It is not appropriate to interpret the Y-intercept because it is outside the range of observed wedding costs, B. It is not appropriate to interpret the Y-intercept because it is outside the range of observed attendances. OC. The Y-intercept indicates that a wedding with an attendance of 0 people has a mean predicted cost of Sbg D. The Y-intercept indicates that a wedding with a cost of $0 has a mean predicted attendance of by people. Identify and interpret the meaning of the coefficient of determination in this problem. Select the correct choice below and fill in the answer box to complete your choice. (Round to three decimal places as needed.) This value is the probability that the slope of the regression line is statistically significant This value is the probability that the correlation between the variables is statistically significant. OA The coefficient of determination is R B. The coefficient of determination is R2 C. The coefficient of determination is t OD. The coefficient of determination is R This value is the proportion of variation in attendance that is explained by the variation in wedding cost. This value is the proportion of variation in wedding cost that is explained by the variation in attendance. c. If a couple is planning a wedding for 175 guests, how much should they budget? They should budget $ (Round to the nearest dollar as needed.) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 A Wedding Cost 61700 53000 47000 43000 32000 32000 29500 28000 28000 26000 25000 24000 24000 22000 22000 21000 21000 20000 20000 17000 15000 14000 12000 7000 5000 B 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