Requirement 1. Determine the company's cost equation (use the output from the Excel regression) Round thu amounts to two decimal places) $ 0.20 x $ 1.028.28 y Requirement 2. Determine the R-squared (use the output from the Excel regression) The R-squared in 0.746077 What does Flowers 4 You's R-squared indicate This question is complete, Move your cursor over or tap on the red arrows to see incorrect answers with the Click the icon to view the data) Read the requirements What does Flowers 4 You's R.squared indicate? The R-squared indicates that the cost equation explains 74,676 of the variability in the data in other words, it should be sed with caution Flowers 4 You may or may welcome using this cost equation to predict total costs at other volumes within the same relevant range Requirement 3. Predict van operating costs at a volume of 17,000 miles assuming the company would use the cost equation from the Excel regreso en tesored Show the company rely on this cost estimate? Why or why not? (Round your answer to the nearestent The operating costs at a volume of 17.000 miles is $5,448.26 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers All parts showing Smolar Question 631 PM Homework: Homework Chapter Six Colby Mead 04/02/21 6:31 PM Save Score: 0.6 of 2 pts 6 of 9 (9 complete HW Score: 44.45%, 8.89 of 20 pts E6-29A (similar to) Question Help Kathy Tran owner of Flowers 4 You, operates a local chain of floralshop. Each shop has its own delivery van instead of charging a fat delivery fee. Tran wants to set the devery lee based on the distance driven to deliver the flowers. Tran wants to separate the fored and variable portions of her van operating costs so that she has a betea how delivery districe afects these costs. She has the following data from the past seven months (Click the icon to view the data) Read the requirements using this cost equation to predict total costs at other volumes within the same relevant range Requirement 3. Predict van operating costs at a volume of 17,000 miles assuming the company would use the cost equation from the Excel regression regardless of its cured. Should the company rely on this cost estimate? Why or why not? (Round your answer to the nearest cet) $ 5,448.28 The operating costs at a volume of 17.000 miles is Should the company rely on this cost estimate? Why or why not? Since the R-squared is between 50 and 30the company should use the cost equation with caution This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers Similar Question All parts showing ORE IM 4/2/2021 X1 Carbon lenovo 6 7 8 4 Este 2 3 W E R T 7210 eks (1) Colb ork Chapter Six 6 of 9 (9 complete) - X i Data Table les a local cha ers. Rafferty w from the past ging a flat delivery fee, posts so that she has a Month Miles Driven Van Operating costs $5,480 16,400 $5,400 est equation (use cimal places.) January... February.... March April May 17,500 15,000 16.100 17,300 15,600 14,500 $4,950 $5,270 $5,740 June $5,440 July $4,680 en click Check A Print Done % 5 4 & 7 ) 0 6 00 9 Ork Chapter Six 6 of 9 (9 complete) peryfe Requirements - X je has COS Use Microsoft Excel to run a regression analysis, then do the following: 1. Determine the company's cost equation (use the output from the Excel regression) 2. Determine the R-squared (use the output from the Excel regression). What does Flower Power's R-squared indicate? 3. Predict van operating costs at a volume of 16,000 miles assuming the company would use the cost equation from the Excel regression regardless of its R-squared. Should the company rely on this cost estimate? Why or why not? chen Print Done Clear All ca 9 $ % 5 & 7 6 8 C 9 ) O 9 R