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Kim Meyer, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat
Kim Meyer, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Meyer wants to set the delivery fee based on the distance driven to deliver the flowers. Meyer 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. Flower Direct 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.) Read the requirements. Requirement 1. Determine the firm's cost equation (use the output from the Excel regression). (Enter amounts to two decimal places.) y = X +
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