Question: Using the data in the Excel file Demographics, apply the Excel Regression tool using unemployment rate as the dependent variable and cost of living index

Using the data in the Excel file Demographics, apply the Excel Regression tool using unemployment rate as the dependent variable and cost of living index as the independent variable.
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 outliers exist.

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RESIDUAL OUTPUT SORTED HIGH TO LOW Observation Predicted Y Residuals Standard Residuals 10 0038548402 0099451598 4948201133 9 0038650057 0086349943 4296330001 124 0037464078 0079535922 3957299287 74 0... View full answer

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