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Points: 0 of 1 Save Kathy Chen, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a fiat 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. Flower Direct does a regression analysis on the next year's data using Excel. The output generated by Excel is as follows: I (Click the icon to view the regression analysis.) Read the requirements c Requirement 1. Determine the firm's cost equation (use the output from the Excel regression) [Enter amounts to wo decimal places) 24 y m Requirements 1. Determine the firm's cost equation (use the output from the Excel regression). 2. Determine the R-squared (use the output from the Excel regression). What does Flower Direct's R-squared indicate? 3. Predict van operating costs at a volume of 16,000 miles assuming the company would use the cost equation from the Excel regression regardless of its R-squared. Should the company rely on this cost estimate? Why or why not? Print Done Question 4. E6-28A (sim... HW Score: 0% 0 of 5 points Sav. Regression analysis len want so that erated b D E F G B 1 SUMMARY OUTPUT 2 Regression Statistics 3 Multiple R 4 R Square 5 Adjusted R Square 6 Standard Error 0.85 0.72 0.66 207.23 7 Observations 7 8 ANOVA 9 dr SS MS F Significance F Print Done Ak answer Regression analysis - X 6 Standard Error 20723 7 Observations ui 7 8 ANOVA 9 df nt SS MS F Significance F 10 Regression 1 12.71 0.0161 11 Residual 545,878.49 214.721.51 760,600.00 545,878.49 42,944,30 5 12 Total 6 Coefficients Standard Error Stat P-value Lower 95% 13 14 Intercept 15 X Variable 1 94720 1.217.79 0.78 Upper 95% 4,077.64 0.47 -2.183.23 0.27 0.08 3.57 0.02 0.08 0.46 Print Done e