Question: costs. Tulip Time does a regression analysis on the next year's data using Excel. The output generated by Excel is as follows: (Click the icon

costs. Tulip Time does a regression analysis on the next year's data using Excel. The output generated by Excel is as follows: (Click the icon to view the regression analysis.) Read the Requirement 1. Determine the firm's cost equation (use the output from the Excel regression). (Enter amounts to two decimal places.) y=x+ Requirements 1. Determine the firm's cost equation (use the output from the Excel regression). 2. Determine the R-squared (use the output from the Excel regression). What does Tulip Time's R-squared indicate? 3. Predict van operating costs at a volume of 16,500 miles assuming the company would use the cost equation from the Excel regression regardless of its R-squared. Should the company rely on this cost estimate? Why or why not? Regression analysis

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