The following data show the media expenditures ($ millions) and the shipments in bbls.(millions) for 10 major brands of beer.Media ExpendituresBrand ($ millions) ShipmentsBudweiser 120.0 36.3Bud Light 68.7 20.7Miller Lite 100.1 15.9Coors Light 76.6 13.2Busch 8.7 8.1Natural Light 0.1 7.1Miller Genuine Draft 21.5 5.6Miller High Life 1.4 4.4Busch Light 5.3 4.3Milwaukee’s Best 1.7 4.3a. Develop the estimated regression equation for these data.b. Use residual analysis to determine whether any outliers and/or influential observationsare present. Briefly summarize your findings and conclusions.