Many different interest groups such as the lumber industry, ecologists, and foresters benefit from being able to predict the volume of a tree just by knowing its diameter. One classic data set (shortleaf. txt) reported by C. Bruce and F. X. Schumacher in 1935 concerned the diameter (in inches) and volume in cubic feet) of 70 shortleaf pines. A researcher is interested in learning about the relationship between the diameter and volume of shortleaf pines. (a). Identify the response variable and explanatory variable for the problem(b). Draw a scatter plot to show how volume of a tree and its diameter are associated. Comment on your observations.(c). Fit a regression line for the problem, write down the estimated equation (define any terms you might have used), and mark the estimated line on the scatter plot in part (b). Provide all outputs. Interpret the estimated parameters clearly in the context of the problem.(d). Obtain the diagnostics for the fitted model in part (c) Clearly state your observations, Provide all the outputs you used.(e). Identify (i) the point with highest residual (studentized residual), (ii) the point with highest leverage, and (iii) the point with highest Cook's distance. Suppose a friend of the researcher suggested that there is an influential point in the data, and should be investigated. Do you agree with this comment? Explain your reasoning.