The manager of the main laboratory facility at MetroFit Center is interested in being able to The laboratory manager performed a regression analysis to predict total laboratory overhead predict the overhead costs each month for the lab. The manager believes that total overhead costs. The output generated by Exool is as follows: varies with the number of lab tests performed but that some costs remain the same each click the icon to view the completed regression analysis.) month regardless of the number of lab tests performed. The lab manager collected the folowing data for the first seven months of the year Read the equitements Click the icon to view the data.) Requirement 1 Determine the tot's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) Number of Lab Tests Performed Total Laboratory Overhead Costs Month January 2,900 $25,400 --- February 2,800 $25,200 March 3,300 $26,000 3,600 $30,000 April May 4,300 $29,000 1,800 $18,500 June July 3,700 $26,800 1 SUMMARY OUTPUT 0.914585 2. Regression Statistics 3 Multiple R 4 R Square 5 Adjusted R Square 6 Standard Error 0.836466 0.80376 1644.812372 7 Observations 7 8 ANOVA 9 dr SS 1 69190104.17 10 Regression 11 Residual MS F Significance F 69190104,17 25.574742 0.003909 2705407.738 5 13527038.69 6 82747142.86 12 Total Coefficients Standard Error t Stat P-value 13 Lower 95% Upper 95% 2756.974 12259.52 4.447 0.007 5172.496 19346.552 14 Intercept 0.839 5.057 4.24 0.004 2.087 6.402 15 X Variable 1 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 2,700 tests are performed