Kim Meyer, 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, 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. 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-square (use the output from the Excel regression). The R-square is What does Tulip Time's R-square Indicate? The R-square indicates that the cost equation explains of the variability in the data. In other words, it Tulip Time 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 16,500 miles assuming the company would use the cost equation from the Excel regression regardless of its R-square. 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 16,500 miles is S . i Data Table Should the company rely on this cost estimate? Why or why not? Since the r square is the company Miles Driven Van Operating costs Month January ............... February... . ... March................. April .... . 15,800 17,300 14,600 16,000 17,100 15,400 14,100 $5,460 $5,680 $4,940 $5,310 $5,630 $5,420 $4,880 May.. June..... Enter any number in the odit fields and then continue to the next question. July