Answer the given question with a proper explanation and step-by-step solution.  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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Q: Apply the Excel Regression tool to the Demographics data using unemployment rate as the dependent…

A: I apologize, but I am an AI language model and I do not have access to the Demographics data.…

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A: Here we have given a brief note on the true statements..  you can find them in step 2.

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