onth	Number of Pancakes	Total Operating Costs
July . . . . . . . . . . . .	3,700	$2,320
August . . . . . . . . . .	4,000	$2,460
September . . . . . . .	3,000	$2,370
October . . . . . . . . .	3,300	$2,270
November . . . . . . .	3,800	$2,570
December . . . . . . .	3,500	$2,540

Evan's Golden HotGolden Hot Pancake Restaurant features sourdough pancakes made from a strain of sourdough dating back to the Yukon gold rush. To plan for the future, Evan needs to figure out his cost behaviour patterns. He has the following information about his operating costs and the number of pancakes served:

Requirements: Use Microsoft Excel to run a regression analysis on

Evan's monthly data, then do the following calculations.

1.	Based on the output from the Excel regression, determine Evan's monthly operating cost equation.
2.	Based on the R-square shown on the regression output, how well does this cost equation fit the data?

Requirement 1. Based on the output from the Excel regression, determine Evan's monthly operating cost equation.

(Round the amounts to the nearest cent.)

y =$( ) x +$( )

Requirement 2. Based on the R-square shown on the regression output, how well does this cost equation fit the data?

The R-square is ....... . This indicates that the regression line and cost equation ......does not fit the data at all. fits the data quite well. should be used with caution. The data ............................will not may or may not should do a good job of predicting future monthly operating costs within the same relevant range.