Assume that Flowers Direct does a regression analysis on the next year's data using Excel. The output generated by Excel is as follows:

Requirements
1. Determine the firm's cost equation (use the output from the Excel regression).
2. Determine the R-square (use the output from the Excel regression). What does Flowers Direct's R-square indicate?
3. Predict van operating costs at a volume of 15,000 miles.

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Statistics 4 Multiple R 0.96 0.92 0.90 112.91 6 Adjusted R Square 7 Standard Eror 8 Observations 0 ANOVA df MS F Significance F 0.0007 689,408.19 689.408.19 54.08 13 Residual 4 Total 15 63,745.52 12,749.10 753,153.71 Upper Lower Upper 95.0% 16 Coefficients Standard Error 629.77 0.04 P-value 0.25 0.00 t Stat 95% 95% 95.0% 1.31 826.04 0.28 792.832.444.91 0.37 792.832,444.91 0.37 18 X Variable 1 7.35 0.18 0.18