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The manager of the main laboratory facility at CapitalFit Center is interested in being able to predict the overhead costs each month for the lab. The manager believes that total overhead varies with the number of lab tests performed but that some costs remain the same each month regardless of the number of lab tests performed. The lab manager collected the following data for the first seven months of the year. B (Click the icon to view the data.) Number of Lab Tests Performed Total Laboratory Overhead Costs Month 2,500 $26,800 January February 2,400 $25,700 March 3,200 $25,900 April 3,650 $28,900 ---- May 3,800 $28,500 June 1,800 $20,900 July 1,900 $19,600 The laboratory manager performed a regression analysis to predict total laboratory overhead costs. The output generated by Excel is as follows: E (Click the icon to view the completed regression analysis.) RE Read the requirements. 80 B E F G 1 SUMMARY OUTPUT Regression Statistics N 0.880534 tea y= 3 Multiple R 4 R Square 5 Adjusted R Square 6 Standard Error 0.77534 0.730408 1868.82221 7 Observations 7 8 ANOVA 9 dr SS MS F Significance F 0.008875 10 Regression 1 60266089.17 60266089.17 17.255877 11 Residual 5 17462482.26 3492496.451 12 Total 6 77728571.43 13 Standard Error Star P.value Coefficients 14409.92 2688.513 5,360 0.003 14 Intercept 15 X Vanable 1 Lowor 95% Upper 95% 7498.876 21320.960 1:494 6.343 3.92 0.943 4.154 0.009 Requirements 1. Determine the lab's cost equation (use the output from the Excel regression). 2. Determine the R-squared (use the output from the Excel regression). 3. Predict the total laboratory overhead for the month if 2,700 tests are performed. Print Done