o Kim Meyer, owner of Tulip Time, operates a local chain of oral shops. Each shop has its own delivery van. Instead of charging a flat delivery foo, 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 LTE (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-SL x+s i Data Table 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? January February The R-square indicates that the cost equation explains of the variability in the feel confident using this cost equation to predict total costs at other March Miles Driven 15,800 17,300 14,600 16,000 17,100 15.400 14,100 Van Operating Costs $5,460 $5,680 $4,940 $5,310 $5,830 $5,420 $4,880 April Requirement 3. Predict van operating costs at a volume of 16,500 miles assuming the its R-square. Should the company rely on this cost estimate? Why or why not? (Round May - June The operating costs at a volume of 16,500 miles is $ L July Should the company rely on this cost estimate? Why or why not? Print Done Enter any number in the edit fields and then continue to the next question. o Kim Meyer, owner of Tulip Time, operates a local chain of oral shops. Each shop has its own delivery van. Instead of charging a flat delivery foo, 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 LTE (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-SL x+s i Data Table 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? January February The R-square indicates that the cost equation explains of the variability in the feel confident using this cost equation to predict total costs at other March Miles Driven 15,800 17,300 14,600 16,000 17,100 15.400 14,100 Van Operating Costs $5,460 $5,680 $4,940 $5,310 $5,830 $5,420 $4,880 April Requirement 3. Predict van operating costs at a volume of 16,500 miles assuming the its R-square. Should the company rely on this cost estimate? Why or why not? (Round May - June The operating costs at a volume of 16,500 miles is $ L July Should the company rely on this cost estimate? Why or why not? Print Done Enter any number in the edit fields and then continue to the next