Recent monthly costs of providing on-board flight service incurred by New England Airlines are shown in the
Question:
Recent monthly costs of providing on-board flight service incurred by New England Airlines are shown in the following table.
Required:
1. Use least-squares regression to estimate the cost behavior of the airline's on-board flight service.
Express the cost behavior in equation form.
2. Calculate and interpret the R2 value for the regression line.
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