Kate Reynolds, owner of Flower Mode, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Reynolds wants to set the delivery fee based on th distance driven to deliver the flowers. Reynolds 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 Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) Requirement 2. Determine the R-squared (use the output from the Excel regression). The R-squared is What does Flower Mode's R-squared indicate? The R-squared indicates that the cost equation explains of the variability in the data. In other words, it Flower Mode feel confident using this cost equation to predict total costs at other volumes within the same relevant range. What does Flower Mode's R-squared indicate? The R-squared indicates that the cost equation explains of the variability in the data. In other words, it Flower Mode 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 15,500 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 15,500 miles is Should the company rely on this cost estimate? Why or why not? Since the R-squared is , the company Data table Kate Reynolds, on operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Reynolk distance driven to eynolds wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how de the following data nonths: E" (Click the icon 0.701995 Read the requirer 0.7516620.866985 Requirement 1. D 0.063518 Iy's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y=x0.204931 Requirement 2. red (use the output from the Excel regression). The R-squared is What does Flower Mode's R-squared indicate? The R-squared is What does Flower Mode's R-squared indicate? The R-squared indicates that the cost equation explains of the variability in the data. In other words, it Flower Mode 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 15,500 miles assuming the company would use the regardless of its R-squared. Should the company rely on this cost estimate? Why or why not? (Round your answer to the nearest cent.) should be used with caution. The operating costs at a volume of 15,500 miles is does not fit the data at all. Should the companv relv on this cost estimate? Why or why not? fits the data quite well. The R-squared is What does Flower Mode's R-squared indicate? The R-squared indicates that the cost equation explains of the variability in the data. In other words, it Flower Mode feel confident using this ost equation to predict total costs at other volumes within the same relevant range. Requirement 3. Predict van operating costs at a volume of 15,500 miles assuming the company would use the cost equation from the Excel regression rega uuld the company ely on this cost estimate? Why or why not? (Round your answer to the nearest cent.) The operating costs at a volume of 15,500 miles is Should the companv relv on this cost estimate? Whv or whv not? What does Flower Mode's R-squared indicate? The R-squared indicate: of the variability in the data. In other words, it Flower Mode feel confident using this cost equation to predict in the same relevant range. Requirement 3. Predict between .50 and .8015,500 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 estimat r answer to the nearest cent.) less than .50 The operating costs at Should the company rel over .80 why not? Since the R-squared is , the company What does Flower Mode's R-squared indicate? The R-squared indicates that the cost equation explains Flower Mode feel confident using this cost equation to predict total costs at other volumes within the Requirement 3. Predict van operating costs at a volume of 1! t equation from the Excel regression regardless of its R-squared. Should the company rely on this cost estimate? Why or why not? (Round your ans The operating costs at a volume of 15,500 miles is Should the company rely on this cost estimate? Why or why r Since the R-squared is the company