$(8)$ 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.

Coefficients

Intercept $2,796\mathrm{.}610$selected answer incorrect

X Variable $17\mathrm{.}581$selected answer incorrect

Required $5$

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.

Regression Statistics

Multiple R $0\mathrm{.}986$selected answer incorrect

R Square $0\mathrm{.}972$selected answer incorrect

Adjusted R Square $0\mathrm{.}966$selected answer incorrect

Standard Error $1,583\mathrm{.}210$selected answer incorrect

Observations $6$selected answer correct

From the regression output, number of bottles explains about $97$selected answer incorrect $\%$ of the variability in Garfield$$s total

Requirement $6$:

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

Note: Round your answers to $3$ decimal places.

Total Cost $=$ $$3,512\mathrm{.}263$selected answer incorrect $+$ $$7\mathrm{.}581$selected answer incorrect $($Number of Bottles$)$