Using the Excel file Weddings, apply the Excel Regression tool using the wedding cost as the dependent variable and attendance 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.
d. If a couple is planning a wedding for 175 guests, how much should they budget?