please explain all the steps and fill in the excel sheet with the ans.
Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. x fx G 1 N AB D 1 Cost Behavior 2 Performing a regression analysis to predict overhead for a hospital laboratory 3 $ The manager of the main laboratory facility at Elmhurst Health 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 manager of the main laboratory facility at Elmhurst Health Center collected the following seven months of 4 data. The number of tests performed and the total monthly overhead costs for the lab follow: 5 Number of Lab Total Laboratory 6 Month Tests Performed Overhead Costs 7 August 3,350 23,500 8 September 3,700 $ 27,550 October 3,650 $ 24,500 10 November 3,450 $ 26,400 11 December 4,200 $ 28,500 12 January 2,500 $ 22,800 13 February 3,800 $ 25,350 14 5 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 16 Instruction tab you will be marked wrong. 9 18 Requirements 1 Run a regression analysis using data for August through February. Determine the lab's cost equation (use the output from the 19 reeression analysis vou performed usine Excel). 20 a. Rename the regression output tab name "REGRESSION". 21 2 Determine the R-square using the Excel output you obtain 22 3 Predict the lab's total overhead costs for the month if 3,500 tests are performed. a Reference values calculated in previous requirements as needed. INSTRUCTIONS ENTERANSWERS + Ready ENTEROWERO aut BS Xfx A G 1 K M B C D E F H J SA for 1 1. Run a regression analysis using data for August through February. Determine the lab's cost a. Rename the regression output tab name "REGRESSION": (Always use cell references and formulas where appropriate to receive full credit. If you 3 copy/paste from the Instruction tab you will be marked wrong.) 2 5 y 2. Determine the R-square using the Excel output you obtain. (Always use cell references and formulas where appropriate to receive full credit. If you 8 copy/paste from the Instruction tab you will be marked wrong.) 9 10 R square 11 12 3. Predict the lab's total overhead costs for the month if3,500 tests are performed. 13 a. Reference values calculated in previous requirements as needed, (Always use cell references and formulas where appropriate to receive full credit. If you 14 copy/paste from the Instruction tab you will be marked wrong.) hin 15 e 16 The total laboratory overhead at a volume of 3,500 lab tests is 17 18 19 te 20 21 der 22 ef 23 u 24 25 26 27 28
