Using the Excel file Weddings, 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.

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 makes $ 70,000 together, how much would they probably budget for the wedding?