Refer to same Exhibit 9.1. Interpret the meaning of R Square in cell B3 of the spreadsheet

The following questions are based on the problem description and spreadsheet below. A company has built a regression model to predict the number of labor hours (Yi) required to process a batch of parts (Xi). It has develop following Excel spreadsheet of the results. A BI D E F 1 Regression Statistics 2 Multiple R 0.9970 3 R Square 0.9941 4 Adjusted R Square 0.9933 51 Standard Error 0.3679 6 Observations 10 7 8 ANOVA 9 d SS MS Significance F 10 Regression 1 181.5971 181.5971 1341.5500 0.0000 11 Residual 8 1.0829 0.1354 12 Total 9 182.6800 13 14 Standard Error Lower 95% Upper 95% Coefficients t Stat P-value 15 Intercept 4.8400 0.2513 19.2571 0.0000 4.2604 5.4196 16 X Variable 1 1.4836 0.0405 36.6272 0.0000 1.3902 1.5770 Refer to Exhibit 9.1. Predict the mean number of labor hours for a batch of 5 parts