Assume that Alice s Flower Power does a regression analysis on
Assume that Alice’s Flower Power does a regression analysis on the next year’s data using Excel 2007. The output generated by Excel is as follows:
Requirements
1. Determine the firm’s cost equation (use the output from the Excel regression).
2. Determine the R-square (use the output from the Excel regression). What does Flower Power’s R-square indicate?
3. Predict van operating costs at a volume of 16,000 km.
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