ter 6 Homework K Question 4, E6-33A (similar to) Part 1 of 4 The manager of the man laboratory facility at Metrofit Center is enterested in beng able to predict the overhead costs each month for the lab. The manager believes that fotal overhead varies with the number of lab tests performed but that some costs remain the same each month regardless of the number of lab less performed. The lab manager collected the following data for the fest seven months of the year (Click the icon to view the data) HW Score: 50.29%, 2.51 of 5 points O Points: 0 of 1 Save The laboratory manager performed a sogression analysis to predict total laboratory overhead costs The outpot generated by Excel is follows Click the icon to view the completed regression analysis) Read the coquements Requirement 1. Determine the lot's cost equation (une the output from the Excel regression) (Round the amounts to bwo decimal places) y video Get more help. Clear all Check answer 71204 Question 4, E6-33A (similar to) Part 1 of 4 facility at MetroFit Center is interested in being able to predict the lab. The manager believes that total overhead varies with the number costs remain the same each month regardless of the number of lab Collecte Data table HW O The laboratory costs. The outp (Click the ic Xe requir Number of Lab Month Tests Performed Total Laboratory Overhead Costs s cost January..... 3,300 $28,900 February... 3.150 $28,300 March 4,100 $32,500 April...... 4250 $34,000 May 4,500 $29,900 June. 1,500 $17.000 July 1,700 $15,500 Print Done 4+ 100 DE 7-011 8 decimal get COS sp m Data table 1 the 2 3 Multiple R 4 R Square SUMMARY OUTPUT Regression Statistics 0.94799 0.898685 0.878422 5 Adjusted R Square en 6 Standard Error herp 2562.300148 7 7 Observations 8 ANOVA 9 10 Regression 11 Residual 12 Total df SS MS F Significance F 1 291181661.19 291181661 19 44.351061 0.001152 5 32826910.24 6565382.048 6 324008571 43 13 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% 14 Intercept 8047 25 2947 351 2.730 0.041 470 840 15623 652 15 X Variable 1 5.77 0.866 6.660 0.001 3,541 7.994 Print Done - X regre is as eted r Requirements 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 3,100 tests are performed. - X