Method of Least Squares, Evaluation of Cost Equation Lassiter Company used the method of least squares to develop a cost equation to predict the cost of moving materials. There were 80 data points for the regression, and the following computer output was generated: Intercept $18,950 Slope 11 Coefficient of correlation 0.94 Standard error $220 The activity driver used was the number of moves. Required: 1. What is the cost formula? Y = $ 18,950 + $ 11 x 2. Using the cost formula, predict the cost of moving materials if 340 moves are made. $ 22,690 3. What percentage of the variability in moving cost is explained by the number of moves? (Round percentage to two decimal places.) 0.8864 x %