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Tammy Lotta, owner of Fourth Street Floral, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a
Tammy Lotta, owner of Fourth Street Floral, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Lotta wants to set the delivery fee based on the distance driven to deliver the flowers. Lotta 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 firm's cost equation (use the output from the Excel regression). {Round the amounts to two decimal places.) Data Table Month Miles Driven 15.BDO Van Operating costs $5,460 January February March 17.300 April $5,680 $4,940 $5,310 $5,830 $5,420 14,600 16.000 17.100 15,400 14,100 May June July $4,880 Print Done
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