Home Until yo Kathy Chen, owner of Tulip Time, 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 fored and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. Tulip Time does a regression analysis on the next year's data using 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 a re (use the output from the Excel regression). What does Tulip Time's R-square indicate? 3. Predict van operating costs at a volume of 16,500 miles assuming the company would use the cost equation from the Excel regression regardless of its R are Should the company rely on this cost estimate? Why or why not? me: t Worked Tent Sco empts: Requirement 1. Determine the firm's cost equation (use the output from the Excel regression)(Enter amounts to two decimal places) y=$ 709 81 + $ 0.29 0 Regression analysis E6-2018 E6-40A SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 1823 ANOVA use ACCT Regression 00120 435,336 22 435 336 22 147 149 49 Residual 29 29 90 582 485 71 Standard Upper S Zomer vave 0896 082 0 562 2240 20 30001 Enter any number in the edit fields and ABT 35 1.150 7 Intorcol