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[The following information applies to the questions displayed below.) Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in
[The following information applies to the questions displayed below.) Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of it car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Month January February Marah April May June July August September October November December Rental Returns 2,500 2,500 2,800 3,100 3,700 5,200 5,600 5,700 4,800 4,500 2,300 3,100 Car Wash Costs $ 11,900 $ 13,600 $ 12,700 $ 15,600 $ 17,100 $ 25,100 $ 23,100 $ 24,400 $ 23,700 $ 23,800 $ 11,600 $ 17,400 Relationship between Car Washing costs and Rental Returns 30,000 25,000 y4.0026 +3056.7 R.0.912 25.100 21.700 24,400 21.00 21.100 20,000 17.400 37.100 CAR WASHING COSTS 15,000 1600 15.600 13,700 11.6 11.900 10,000 5,000 4.000 6,000 1,000 2.000 3.000 RENTAL RETURNS Help Save & Edit Sub Upload your Excel Spreadsheet for Problem 1, which should include 1) your data and 2)1 Scatter Plot graph showing Least Squares Regression. Also answer the following question in your Excel Spreadsheet: How closely does your projected line fit your data? Does the linear equation provide a good estimate of total cost at different levels of production (car washes)? Explain, being as specific as you can using the information you've obtained from your Least Squares Regression Analysis. You will be graded based on 1) accuracy, and 2) presentation (does your graph contain helpful titles, a linear equation, a line that crosses the Y-axis, and the R-squared value, and is it easy to read?)
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