$(8)$ Garfield Company manufactures a popular brand of dog repellant known as DogGone It$,$ which it sells in gallon $-$ size

bottles with a spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are

trying to keep neighborhood dogs out of their yards. Garfield's operating information for the first six months of the year

follows:

Month Number of Bottles Sold Operating Cost

January $1,000$$$10,630$

February $1,46015,620$

March $1,70015,940$

April $2,47019,720$

May $3,47027,870$

June $3,80034,800$

Required:

Using the high $-$ low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle.

Perform a least $-$ squares regression analysis on Garfield's data.

Determine how well this regression analysis explains the data.

Using the regression output, create a linear cost equation $(y=a+bx)$ for estimating Garfield's operating costs.

Required $4$

Perform a least $-$ squares regression analysis on Garfield's data.

Note: Use Microsoft Excel or a statistical package to find the coefficients using least $-$ squares regression. Round your

answers

to $3$ decimal places.

Required $5$

Determine how well this regression analysis explains the data.

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Note: Round your regression statistics to three decimal places and, observation and percentage answer to the nearest whole Determine how well this regression analysis explains the data.

Note: Round your regression statistics to three decimal places and, observation and percentage answer to the nearest whole

number.