The manager of the main laboratory facility at CenterHealth Center ( from E6- 30A) collects seven additional months of data after obtaining the regression results in E6- 32A. The number of tests performed and the total monthly overhead costs for the lab follow:

Use Excel to do the following:

Requirements
1. Determine the lab€™s cost equation (use the output from the regression analysis you performed using Excel).
2. Determine the R- square using the Excel output you obtain. What does the lab€™s R- square indicate?
3. Predict the lab€™s total overhead costs for the month if 3,400 tests areperformed.

Transcribed Image Text:

Number of Lab Tosts Total Laboratory Month August September Performed 3,150 3,100 3,850 4,160 3,920 2,700 3,450 Overhead Costs $22,950 $21,750 $25,460 $29,800 $28,200 $19,750 $23,400 October Novambor.a December anuarVaco&&e Fobruary