Alice Woo, owner of FlowerParadise, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat deliveryfee, Woo wants to set the delivery fee based on the distance driven to deliver the flowers. Woo 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 thatAlice's FlowerParadise does a regression analysis on the nextyear's data using Microsoft Excel. The output generated by Excel is asfollows:

-Please find the attached pictures for the full question

Alice Woo, owner of Flower Paradise, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Woo wants to set the delivery fee based on the distance driven to deliver the flowers. Woo 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 Paradise 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). What does Flower Paradise's R-square indicate? 3. Predict van operating costs at a volume of 16,500 km. Requirement 1. Determine the firm's cost equation (use the output from the Excel regression). (Round your answers to the nearest cent.) y = $ /x + $ [ Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flower Paradise's R-square indicate? The R-square indicates that the cost equation explains of the variability in the data. In other words, it Flower Paradise feel confident using this cost equation to predict total costs at other volumes within the same relevant range. Requirement 3. Predict van operating costs at a volume of 16,500 km. (Round your answer to the nearest cent.) The van operating costs at 16,500 km is $floral shop jeli livery distal Regression analysis X it g Excel regre ssion). WH Regression Statistics Multiple R 0.96 tput from t R Square 0.92 Adjusted R Square 0.90 Standard Error 112.91 he Excel r Observations 7 ANOVA df SS MS F Significance F of the varia Regression 689408.19 689408.19 54.08 0.0007 Residual 5 63745.52 12749.10 edi 500 km. (R Total 6 753153.71 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 826.04 629.77 1.31 0.25 -792.83 2444.91 -792.83 2444.91 X Variable 1 0.28 0.04 7.35 0.00 0.18 0.37 0.18 0.37 Print Done