Question: Assume that Posies Unlimited does a regression analysis on the next years data using Excel. The output generated by Excel is as follows: Requirements 1.

Assume that Posies Unlimited does a regression analysis on the next year€™s data using Excel. 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 Posies Unlimited R- square indicate?
3. Predict van operating costs at a volume of 14,500miles.

SUMMARY OUTPUT Regression Stodstics 3 Multiple R 4 RSquare 5 Adjusted RSquare 6 Standard Error 7 Observations 8 ANOV 0.84 070 0,64 99.77 10 Regression 1 466,833.76 466,833.76 11.70 0.0188 Residual 199.53767| 3990753 12 Total 6 666.371.43 Sandord Frroe Lower Upper P-vaue 16 Intercept 7 XVariable1 18 181075 021 989.24 0.06 183 3.42 0.13 0.05 -732.174,353,66 038 0.05

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