Requirements Kallie Chen, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. SIA (Click the icon to view the data.) Read the requirements Requirement 1. Determine the company's cost equation (use the output from the Excel regression), (Round the amounts to two decimal places.) y = x+$ 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-square (use the output from the Excel regression). What does Flower Direcl's R-square indicate? 3. Predict van operating costs at a volume of 14,500 miles assuming the company would use the cost equation from the Excel regression regardless of its R-square. Should the company rely on this cost estimate? Why or why not? Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flower Direct's R-square indicate? Print Done of the variability in the data. In other words, it The R-square indicates that the post equation explains volumes within the same relevant range. Flower Requirement 3. Predict van operating costs at a volume of 14,500 miles assurning the company would use the cost equation (Round your answer to the nearest cent.) i Data Table - X st estimate? Why or why not? The operating costs at a volume of 14,500 miles is S Should the company rely on this cost estimate? Why or why not? Since the r-square is the company Month January ................ February......... March............ Miles Driven 15,900 17,300 14,600 16,300 17,200 15,200 14,300 Van Operating Costs $5.430 $5,740 $4.940 $5.270 $5,820 $5,400 $4.990 April ............. May ................. June....... ...... July...... . Enter any number in the edit fields and then continue to the next question. Kallie Chen, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Chen wants to set the delivery fee based on the distance driven to deliver the flowers. Chen wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following dala from the past seven months: (Click the icon to view the data.) Read the requirements Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y=$D x +$ Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flowe indicate? 0.915899 equation explains of the variability in the data. In other words, it Flower Direct feel confident using this cost equation to predict total costs at other The R-square inc volumes within th 0.259446 nge 0.838871 Requirement 3. (Round your ans 0.178182 ng costs at a volume of 14,500 miles assuming the company would use the cost equation from the Excel regression regardless of its R-square. Should the company rely on this cost estimate? Why or why not? ent.) 6 Data Table 14,500 miles is $ . 0.806646 The operating co Should the company rely on this post estimate? Why or why not? Since the r-square is V. the company Month January ............. February.... .. March............ April ............. May ....... Miles Driven 15,900 17,300 14,600 16,300 17,200 15,200 14,300 Van Operating Costs $5.430 $5,740 $4,940 $5,270 $5,820 $5,400 $4.990 Enter any number in the edit fields and then continue to the next question. June............... July............ ... Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y=$ *+$ Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What docs Flower Direct's R-square indicate? of the variability in the data. In other words, it Flower Direct feel confident using this cost equation to predict total costs at other The R-square indicates that the cost equation explains volumes within the same relevant range. 80.7% Requirement 3. Predict van operating costs at a volum (Round your answer to the nearest cent.) s assuming the company would use the cost equation from the Excel regression regardless of its R-square. Should the company rely on this cost estimate? Why or why not? 25.9% 0 Data Table The operating costs at a volume of 14,500 miles is $ 17.8% 91.6% Should the company rely on this cost estimate? Why or Since the r-square is 7. the compe 83.9% Month January .. . February........... March... Miles Driven 15,900 17,300 14,600 16,300 17,200 15,200 14,300 Van Operating Costs $5,430 $5,740 $4,940 $5,270 $5,820 $5,400 $4,990 April ............ . Enter any number in the edit fields and then continue to the next question. May... June ..... .. .. July......... . Kalle Chen, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Chen wants to set the delivery fee based on the distance driven to deliver the flowers. Chen wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Read the requirements Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flower Direct's R-square indicate? of the variability in the data. In other words, it! The R-square indicates that the cost equation explains volumes within the same relevant range. Flower Direct feel confident using this cost equation to predict total costs at other Requirement 3. Predict van operating costs at a volume of 14,500 miles assuming the company would use the cost equation from the Excel regression regardless of its Rouare. Should the company rely on this cost estimate? Why or why not? (Round your answer to the nearest cent.) i Data Table The operating costs at a volume of 14,500 miles is $ . Should the company rely on this cost estimate? Why or why not? Since the r-square is y the company Month over 80 between .50 and.80 less than 50 Enter any number in .... -.-..--...inue to the next question. January ... .. . February......... .... March... ............ April .............. Miles Driven 15,900 17.300 14,600 16,300 17,200 15,200 14,300 Van Operating costs $5,430 $5,740 $4,940 $5,270 $5,820 $5,400 $4.990 May .......... June.............. July...... Kalle Chen, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Chen wants to set the delivery fee based on the distance driven to deliver the flowers. Chen wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Read the requirements Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flower Direct's R-square indicate? of the variability in the data. In other words, it! The R-square indicates that the cost equation explains volumes within the same relevant range. Flower Direct feel confident using this cost equation to predict total costs at other Requirement 3. Predict van operating costs at a volume of 14,500 miles assuming the company would use the cost equation from the Excel regression regardless of its Rouare. Should the company rely on this cost estimate? Why or why not? (Round your answer to the nearest cent.) i Data Table The operating costs at a volume of 14,500 miles is $ . Should the company rely on this cost estimate? Why or why not? Since the r-square is y the company Month over 80 between .50 and.80 less than 50 Enter any number in .... -.-..--...inue to the next question. January ... .. . February......... .... March... ............ April .............. Miles Driven 15,900 17.300 14,600 16,300 17,200 15,200 14,300 Van Operating costs $5,430 $5,740 $4,940 $5,270 $5,820 $5,400 $4.990 May .......... June.............. July...... Kalle Chen, Owner or lower Direct, operates a local chalno lloral shops. Each shop has its own delivery van. Instead of charging a rat delivery ree. Chen Wants to set the delivery ree based on the al stance ariven to deliver une howers. Chen wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Read the requirements. Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y=s x+8 O Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flower Direct's R-square indicate? feel confident using this cost equation to predict total costs at other The R-square indicates that the cost equation explains of the variability in the data. In other words, it Flower Direct volumes within the same relevant range. Requirement 3. Predict van operating costs at a volume of 14,500 miles assuming the company would use the cost equation from the Excel regression rogi Round your answer to the nearest cent.) will not hould the company rely on this cost estimate? Why or why not? should The operating costs at a volume of 14,500 miles is $ . may or may not Should the company rely on this cost estimate? Why or why not? Since the r-square is V. the company | i Data Table Month January ................ February........... March................. Miles Driven 15,900 17,300 14,600 Van Operating Costs $5.430 $5.740 $4.940 Enter any number in the edit fields and then continue to the next question. N LIICII, UWILI UI PIOWE UIT, Upel05 TULI UNTUI III ell Slops. Edull SUP HIS IS UWI ULIVIY Vlll. MSIU UI Lillygallal WIVUI IUU, LII WarS IU SULUU WIVUIT IUU UJSUU UITLI UISLAMU UNIVELUWUIVUI UNTUWUIS. CNC wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Read the requirements. Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y=$ O x +$ Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flower Direct's R-square indicate? The R-square indicates that the cost equation explains of the variability in the data. In other words, it Flower Direct feel confident 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 14.500 miles assuming the company would use the cost equation from the Excel regression regardless of its R-square. Should the company rely on this cost estimate? Why or why not? Round your answer to the nearest cent.) Data Table The operating costs at a volume of 14,500 miles is $ . Should the company rely on this cost estimate? Why or why not? Since the r-square is the company Month January ............... February......... ... March................ April ................ can rely on this cost estimate. should use the cost equation with caution. Miles Driven 15,900 17,300 14,600 16,300 17,200 15,200 14,300 Van Operating Costs $5,430 $5,740 $4,940 $5,270 $5,820 $5,400 $4,990 Enter any number in the edit fields and then continue to .. should not rely on this cost estimate. . M ay ........... June........... July................ Requirements Kallie Chen, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. SIA (Click the icon to view the data.) Read the requirements Requirement 1. Determine the company's cost equation (use the output from the Excel regression), (Round the amounts to two decimal places.) y = x+$ 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-square (use the output from the Excel regression). What does Flower Direcl's R-square indicate? 3. Predict van operating costs at a volume of 14,500 miles assuming the company would use the cost equation from the Excel regression regardless of its R-square. Should the company rely on this cost estimate? Why or why not? Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flower Direct's R-square indicate? Print Done of the variability in the data. In other words, it The R-square indicates that the post equation explains volumes within the same relevant range. Flower Requirement 3. Predict van operating costs at a volume of 14,500 miles assurning the company would use the cost equation (Round your answer to the nearest cent.) i Data Table - X st estimate? Why or why not? The operating costs at a volume of 14,500 miles is S Should the company rely on this cost estimate? Why or why not? Since the r-square is the company Month January ................ February......... March............ Miles Driven 15,900 17,300 14,600 16,300 17,200 15,200 14,300 Van Operating Costs $5.430 $5,740 $4.940 $5.270 $5,820 $5,400 $4.990 April ............. May ................. June....... ...... July...... . Enter any number in the edit fields and then continue to the next question. Kallie Chen, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Chen wants to set the delivery fee based on the distance driven to deliver the flowers. Chen wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following dala from the past seven months: (Click the icon to view the data.) Read the requirements Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y=$D x +$ Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flowe indicate? 0.915899 equation explains of the variability in the data. In other words, it Flower Direct feel confident using this cost equation to predict total costs at other The R-square inc volumes within th 0.259446 nge 0.838871 Requirement 3. (Round your ans 0.178182 ng costs at a volume of 14,500 miles assuming the company would use the cost equation from the Excel regression regardless of its R-square. Should the company rely on this cost estimate? Why or why not? ent.) 6 Data Table 14,500 miles is $ . 0.806646 The operating co Should the company rely on this post estimate? Why or why not? Since the r-square is V. the company Month January ............. February.... .. March............ April ............. May ....... Miles Driven 15,900 17,300 14,600 16,300 17,200 15,200 14,300 Van Operating Costs $5.430 $5,740 $4,940 $5,270 $5,820 $5,400 $4.990 Enter any number in the edit fields and then continue to the next question. June............... July............ ... Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y=$ *+$ Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What docs Flower Direct's R-square indicate? of the variability in the data. In other words, it Flower Direct feel confident using this cost equation to predict total costs at other The R-square indicates that the cost equation explains volumes within the same relevant range. 80.7% Requirement 3. Predict van operating costs at a volum (Round your answer to the nearest cent.) s assuming the company would use the cost equation from the Excel regression regardless of its R-square. Should the company rely on this cost estimate? Why or why not? 25.9% 0 Data Table The operating costs at a volume of 14,500 miles is $ 17.8% 91.6% Should the company rely on this cost estimate? Why or Since the r-square is 7. the compe 83.9% Month January .. . February........... March... Miles Driven 15,900 17,300 14,600 16,300 17,200 15,200 14,300 Van Operating Costs $5,430 $5,740 $4,940 $5,270 $5,820 $5,400 $4,990 April ............ . Enter any number in the edit fields and then continue to the next question. May... June ..... .. .. July......... . Kalle Chen, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Chen wants to set the delivery fee based on the distance driven to deliver the flowers. Chen wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Read the requirements Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flower Direct's R-square indicate? of the variability in the data. In other words, it! The R-square indicates that the cost equation explains volumes within the same relevant range. Flower Direct feel confident using this cost equation to predict total costs at other Requirement 3. Predict van operating costs at a volume of 14,500 miles assuming the company would use the cost equation from the Excel regression regardless of its Rouare. Should the company rely on this cost estimate? Why or why not? (Round your answer to the nearest cent.) i Data Table The operating costs at a volume of 14,500 miles is $ . Should the company rely on this cost estimate? Why or why not? Since the r-square is y the company Month over 80 between .50 and.80 less than 50 Enter any number in .... -.-..--...inue to the next question. January ... .. . February......... .... March... ............ April .............. Miles Driven 15,900 17.300 14,600 16,300 17,200 15,200 14,300 Van Operating costs $5,430 $5,740 $4,940 $5,270 $5,820 $5,400 $4.990 May .......... June.............. July...... Kalle Chen, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Chen wants to set the delivery fee based on the distance driven to deliver the flowers. Chen wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Read the requirements Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flower Direct's R-square indicate? of the variability in the data. In other words, it! The R-square indicates that the cost equation explains volumes within the same relevant range. Flower Direct feel confident using this cost equation to predict total costs at other Requirement 3. Predict van operating costs at a volume of 14,500 miles assuming the company would use the cost equation from the Excel regression regardless of its Rouare. Should the company rely on this cost estimate? Why or why not? (Round your answer to the nearest cent.) i Data Table The operating costs at a volume of 14,500 miles is $ . Should the company rely on this cost estimate? Why or why not? Since the r-square is y the company Month over 80 between .50 and.80 less than 50 Enter any number in .... -.-..--...inue to the next question. January ... .. . February......... .... March... ............ April .............. Miles Driven 15,900 17.300 14,600 16,300 17,200 15,200 14,300 Van Operating costs $5,430 $5,740 $4,940 $5,270 $5,820 $5,400 $4.990 May .......... June.............. July...... Kalle Chen, Owner or lower Direct, operates a local chalno lloral shops. Each shop has its own delivery van. Instead of charging a rat delivery ree. Chen Wants to set the delivery ree based on the al stance ariven to deliver une howers. Chen wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Read the requirements. Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y=s x+8 O Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flower Direct's R-square indicate? feel confident using this cost equation to predict total costs at other The R-square indicates that the cost equation explains of the variability in the data. In other words, it Flower Direct volumes within the same relevant range. Requirement 3. Predict van operating costs at a volume of 14,500 miles assuming the company would use the cost equation from the Excel regression rogi Round your answer to the nearest cent.) will not hould the company rely on this cost estimate? Why or why not? should The operating costs at a volume of 14,500 miles is $ . may or may not Should the company rely on this cost estimate? Why or why not? Since the r-square is V. the company | i Data Table Month January ................ February........... March................. Miles Driven 15,900 17,300 14,600 Van Operating Costs $5.430 $5.740 $4.940 Enter any number in the edit fields and then continue to the next question. N LIICII, UWILI UI PIOWE UIT, Upel05 TULI UNTUI III ell Slops. Edull SUP HIS IS UWI ULIVIY Vlll. MSIU UI Lillygallal WIVUI IUU, LII WarS IU SULUU WIVUIT IUU UJSUU UITLI UISLAMU UNIVELUWUIVUI UNTUWUIS. CNC wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Read the requirements. Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y=$ O x +$ Requirement 2. Determine the R-square (use the output from the Excel regression). The R-square is What does Flower Direct's R-square indicate? The R-square indicates that the cost equation explains of the variability in the data. In other words, it Flower Direct feel confident 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 14.500 miles assuming the company would use the cost equation from the Excel regression regardless of its R-square. Should the company rely on this cost estimate? Why or why not? Round your answer to the nearest cent.) Data Table The operating costs at a volume of 14,500 miles is $ . Should the company rely on this cost estimate? Why or why not? Since the r-square is the company Month January ............... February......... ... March................ April ................ can rely on this cost estimate. should use the cost equation with caution. Miles Driven 15,900 17,300 14,600 16,300 17,200 15,200 14,300 Van Operating Costs $5,430 $5,740 $4,940 $5,270 $5,820 $5,400 $4,990 Enter any number in the edit fields and then continue to .. should not rely on this cost estimate. . M ay ........... June........... July