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The manager of the main laboratory facility at MetroFit 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) Data Table Requirement 1. Determine the lab's cost equation (use the output from the Excel regression) A X + 1 SUM - X Data Table 2 Regre 3 Multiple R 4 R Square 5 Adjusted R Square Month Number of Lab Tests Performed Total Laboratory Overhead Costs $28,900 $28,300 6 Standard Error January February 7 Observations +++ 8 ANOVA March 9 April May June 3,300 3,150 4,100 4,250 4,500 1,500 1,700 $32,500 $34,000 $29,900 $17,000 $15,500 10 Regression 11 Residual July 12 Total 13 Coe 14 Intercept Print Done 15 X Variable 1 - - X Requirements atory osts 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 2,600 tests are performed. 5 Print Done d in being able to predict the overhead costs each the number of lab tests performed but that some costs med The lab manager collected the following data for The laboratory manager performed a regression analysis to predict total laboratory overhead costs The output generated by Excel is as follows (Click the icon to view the completed regression analysis.) - X Data Table the Excel regression) D X 1 SUMMARY OUTPUT 2 Regression Statistics 3 Multiple R 0.94799 4 R Square 0898035 5 Adjusted R Square 0878422 6 Standard Error 2562 300148 7 Observations 7 8 ANOVA 9 ar SS MS Significance 10 Regression 29113166119 2911106119 44351001 0001152 11 Residual 5 32826910 24 5565382040 12 Total 6 324009571.43 13 Co., Ltd Standard Error Star P-value Lower 95% Upper 95 14 Intoncept 8047 25 2947 351 2730 0.041 470 840 15623052 15 x Variable 1 5.77 0.000 6660 0.001 3.541 7904 Check