Excel group Assignment 1 Note: Upload a word/ pdf document as your response. Ensure that you include the name of all the group members in the document. Just one person from each group may upload the document. Copy-paste the MS Excel regression output sheet before proceeding with the questions. Download the dataset from the link here. The sample has data on relative price of sugarcane and area under sugarcane plantation in Bangladesh. A brief description of data is given below: Obs: 73 Annual price = Price of sugar cane divided by the price of jute (jute is an alternative crop to sugar cane, planted by Bangladesh farmers) area = area of sugar cane planted in thousands of hectares in a region of Bangladesh. From economic theory, we predict that if the relative price of sugarcane rises, then farmers will increase the area under sugarcane cultivation. We want to check if this is true for sugarcane plantations in Bangladesh. 1. Identify the regressor and outcome variable in this research question. 2. Use MS Excel to regress the outcome variable on the regressor. Include residual plot with the regression line and residual table in the regression output worksheet. 3. What are the estimated regression coefficients? Interpret them in this specific context. What is the estimated average relationship between the variables? 4. Report the standard errors of the estimated coefficients. What do they indicate? 5. Report the R' and SER. What do they indicate? 6. Based on these values do you think the regressor alone is a good predictor of the outcome variable? Explain