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Answer the 3 requirements, show works please. thanks Kate Meyer, owner of Flower Paradise, operetes a local chain of foral shops. Each shop has its
Answer the 3 requirements, show works please. thanks
Kate Meyer, owner of Flower Paradise, operetes a local chain of foral shops. Each shop has its own deivery van. Instead of charging a flat delivery Tee, Meyer wants to set the delivery Tee based on the distarce driven to deliver the fowers. Meyer wants to separate the fixed and varable portions of her van operating costs so that she has a batter idea how dellvery cistance atfects these costs. Flower Paradise dces a regrassion anatysis on the next years data using Excel. The output generated by Excal is as follows (Click the icon to view the regression anelysis.) 1. Determine the firnis cost equation (use the outout from the Excel regression). . Dedermine the R-square use the output frorn the Excel regression). Whal does Flower Paradses R-square indicate? Predirt van opernting casts at a aluma af 17,000 miles assuming the ampany woud use tha cost rquatian fram the Excdl regrassian regardiess f its R-squae. Shauld the company rely on this cost astimate? Why orwhy not? nts to two dacimal places.) i Regression analysis SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Squano Standard Emor Observations ANOVA 0.85 0.72 0.66 207.23 ar MS 546,878.49 1271 1645,878.49 214,721.51 760,600.00 0.0161 42,944.30 Total Lowar Upper Coemciends 947 20 027 Error t Sta P-value 95% 95% Intercept ,217.780.78 047 -2,183.23 4,077.64 0.02 X Variable 1 0.08 3.57 0.08 0.48Step by Step Solution
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