Question: Just use your Excel regression results and type up a Word document with your answers to these questions Susan lewis owner of a florist shop
Just use your Excel regression results and type up a Word document with your answers to these questions
Susan lewis owner of a florist shop is interested in predicting the cost of delivering floral arrangements . she collected monthly data on the number of deliveries and the total monthly delivery cost for the past year.
month number of deliveries delivery cost
january 100 1,200
febuary 550 1,800
march 85 1,100
april 115 1,050
may 160 1,190
june 590 1,980
july 500 1,800
august 520 1,700
september 100 1,100
october 200 1,275
november 260 1,400
december 450 2,200
#1 How much is the fixed cost of labor per month?
#2 How much is the variable rate per delivery?
#3 What would the cost formula be to use to predict future delivery cost?
#4 Using that cost formula, calculate the budgeted cost for next month, assuming that 305 deliveries are expected.
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