Question: 4e) Report question issue Jenny Jay has decided to try running a regression on the data she collected. The output she got from the

4e) Report question issue Jenny Jay has decided to try running a

4e) Report question issue Jenny Jay has decided to try running a regression on the data she collected. The output she got from the regression analysis is as follows: Intercept No. of pencil cases R Square Coefficients 9474 2.05 0.8410 Using this regression output: i) explain and interpret the R2 and ii) develop a formula/cost function to estimate the cost behaviour exhibited by the company's electricity costs and use this formula to predict the electricity cost if 12,000 pencil cases are produced. Show all workings. A B IU X2 x MacBook Pro E E ABC 123 6 Marks

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