work Question 7, $6-12 (book/static) HW Score: 20%, 2 of 10 points Part 1 of 5 Points: 0 of 1 Save The local Hyatt Place hotel collected seven months of data on the number of room-nights rented per month and the monthly utilities cost. The data was graphed, resulting in the following scatterplot: (Click the icon to view the scatterplot.) Read the requirements 1. Would the high-low method or regression analysis result in a more accurate cost equation for the data pictured in the scatterplot? Explain. Generally speaking, regression analysis results cost equations than does the high-low method. Regression analysis uses to form the line and cost equation that The high-low method uses to form the line and cost equation.Question 7, $6-12 (book/static) HW Score: 20%, 2 of 10 points work Part 1 of 5 O Points: 0 of 1 The local Hyatt Place hotel collected seven months of data on the number of room-nights rented per month and the monthly utilities cost. The data was graphed, re (Click the icon to view the scatterplot.) Read the requirements. 1. Would the high-low n lot? Explain. X Generally speaking, reg Requirements analysis uses and cost equation that to form the line and co 1. Would the high-low method or regression analysis result in a more accurate cost equation for the data pictured in the scatter plot? Explain. 2. A regression analysis of the data revealed an R-squared figure of 0.939. Interpret this figure in light of the lowest and highest possible R-squared values 3. As a manager, would you be confident predicting utilities costs for other room-night volumes within the same relevant range? Print DoneQuestion 7, $6-12 (book/static) HW Score: 20%, 2 Part 1 of 5 O Points: 0 of 1 att Place hotel collected seven months of data on the number of room-nights rented per month and the monthly utilities cost. The e icon to view the scatter wirements. X Graph/chart high-low method or Number of room-nights rented and utilities cost scatterplot? Explain. $7,000- peaking, regression a gression analysis uses $6,000- uation that $5.000 $4,000- Utilities cost $3.000- $2.000- $1,000- SO- 500 1,000 1,500 2,000 2.500 3,000 3,500 Number of room-nights rented Print Done