Using the following data, 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. Interpret all key regression results, hypothesis tests, and confidence intervals in the output. Assume a level of significance of

0.050.05.

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Click the icon to view the wedding data.

Question content area bottom

Part 1

Interpret the

Upper R squaredR2

value. Select the correct choice and fill in the answer box within your choice.

(Round to the nearest percent as needed.)

A.

It is predicted that the couple's income increases by

enter your response here%

for every $1,000 increase in the wedding cost.

B.

About

4040%

of the variability in the wedding cost can be explained by the variability in the couple's income.

Your answer is not correct.

C.

About

enter your response here%

of the variability in the couple's income can be explained by the variability in the wedding cost.

D.

It is predicted that the wedding cost increases by

enter your response here%

for every $1,000 increase in the couple's income.

Part 2

State the null and alternative hypotheses.

Upper H 0H0:

b 1b1

beta 11

beta 00

b 0b0

#38 lt<

equals=

#38 ne&ne

#38 gt>

enter your response here

Upper H 1H1:

beta 00

b 0b0

beta 11

b 1b1

not equals

equals=

greater than>

less than<

enter your response here