2. Prepare a multiple regression table using all three of the activities as the independent variable. Using the output from the multiple regression, give the equation of the line to estimate factory cost in terms of the 3 cost drivers below the table output Also, make sure you identify which cost driver relates to X1, X2, and X3--I have done the first one for you. (excel reads left t dentify the 2 other X variables(I have identified the X1 variable for you, which will be the first column highlighted): X1 Volume of liquid produced x2 X3 Water used in hectoliters Number of Batches 3. Assuming the following level of cost-driver volume for the month, what is the estimated Cost using simple regression for each of the cost drivers and using multiple regression. Volume of liquid produced Water used Number of batches You should have 4 computations for this answer. **** I am preparing the answer using volume of liquid produced to estimate the cost, therefore, you the output tables you generated on separate worksheets from the regression tables to estimate the costs. You will not earn credit if you type only have to prepare 3 computations. 1499 10299 92 Volume of liquid produced to estimate overhead cost 80,140.42 Guidance: Remember the equation of the line is based on Y being the dependent variable which is overhead cost and we are trying to estimate that cost based on usage of the cost driver and in this example it is volume of liquid produced. I used the simple regression output to cell reference and used the intercept as the fixed cost and the X variable as the variable cost. Water used Number of Batches 81,586.02 80,821.35 Multiple regression 80.571.99 4. Using the simple and multiple regression analyses analysis you performed, what independent variable(s) would you recommend to estimate the Overhead Costs? Why? You need to provide and discuss the specific R-squared provided in your analysis for each independent variable and multiple variables. Your response must be a detailed recommendation of why you provided that recommendation and include a discussion of the R-Squared along with providing the specific R-squared results.