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Alice Meyer, owner of Flower Power, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a
Alice Meyer, owner of Flower Power, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Meyer wants to set the delivery fee based on the distance driven to deliver the flowers. Meyer wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. Assume that Alice's Flower Power does a regression analysis on the next year's data using Microsoft Excel. The output generated by Excel is as follows: (Click the icon to view the regression analysis.) 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). Requirement 1. Determine the firm's cost equation (use the output from the Excel regression). (Round your answers to the nearest cent.) y= $x + $
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