Canon Powethanol for those word of their eyes.Chen was het die want them como how every dance she hates me O MO Vang Wind M the the May June Range CH Done a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Chen wants to set the delivery fee based on the distanc van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months. equation (use the output from the - X Requirements he output from the Excel regress Use Microsoft Excel to run a regression analysis, then do the following: 1. Determine the company's cost equation (use the output from the Excel regression) 2. Determine the R-squared (use the output from the Excel regression). What does Flower Power's R-squared indicate? 3. Predict van operating costs at a volume of 17,000 miles assuming the company would use the cost equation from the Excel regression regardless of its R-squared. Should the company rely on this cost estimate? Why or why not? plains of the variability confident using this cost Should the company re volume of 17,000 miles assumir Print Done hy or why not? company tinue to the next question Who - Mere Kristen Chen, 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. Chen wants to set the delivery fee based on the distance driven to deliver the flowers. Chen 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. She has the following data from the past seven months (Click the icon to view the data) Read the requirements Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places) y X + Requirement 2. Determine the R-squared (use the output from the Excel regression) The R-squared is as What does Flower Power's R-squared indicate? Flower Power ea The R-squared indicates that the cost equation explains of the variability in the data. In other words, it 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 17.000 miles assuming the company would use the cost equation from the Excel regression regudessa its R-squared. Should the company rely on this cost estimate? Why or why not? (Round your answer to the nearest cent.) stud The operating costs at a volume of 17,000 miles is Should the company rely on this cost estimate? Why or why not? estion Kristen Chen, owner of Flower Power, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery tee, Chen wants to set the delivery fee based on the distance driven to deliver the flowers. Chen wants to separate the fixed and variable portions of her van operating costs so that the has a better idea how delivery distance affects these costs. She has the following data from the past seven months (Click the icon to view the data) Read the requirements ya x Requirement 2. Determine the R-squared (use the output from the Excel regression). The R-squared is What does Flower Power's R-squared indicate? Flower Power 1S 18 The R-squared indicates that the cost equation explains of the variability in the data. In other words, it 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 17.000 miles assuming the company would use the cost equation from the Excel regression regardless of its R-squared. Should the company rely on this cost estimate? Why or why not? (Round your answer to the nearest cent.) The operating costs at a volume of 17.000 miles is tud Should the company rely on this cost estimate? Why or why not? the company Since the R-squared is ermine the R-squared (use ti Data Table - X wer's R-squared indicate? Month Miles Driven ates that the cost equation e el confident using this cost e Van Operating costs - $5,430 January February March 15,900 17,300 It range. dict van operating costs at a the company rely on this ca $5,740 $4,940 quation from the Excel ht.) ....... 14,600 16,300 --..... $5,270 at a volume of 17.000 miles April May 17,200 $5,820 ------- ely on this cost estimate? June .... 15,200 $5,400 July 14,300 $4,990 ---- S 1.th Print Done the edit fields and then cd the R- i 1: Requirements E-squa the entus Use Microsoft Excel to run a regression analysis, then do the following: 1. Determine the company's cost equation (use the output from the Excel regression). 2. Determine the R-squared (use the output from the Excel regression). What does Flower Power's R-squared indicate? 3. Predict van operating costs at a volume of 17,000 miles assuming the company would use the cost equation from the Excel regression regardless of its R-squared. Should the company rely on this cost estimate? Why or why not? e E opera mpan ume o this ca Print Done Hit fields and then continue to the next