m th 1 A B SUMMARY OUTPUT Regression Statistics 2 3 Multiple R 0.83 4 R Square 0.69 5 Adjusted R Square 0.631 6 Standard Error 127.8 7 D E LL 0 13 7 Observations 8 ANOVA 9 10 Regression 11 Residual 12 Total 22 df SS MS F 1 185,536.45 185,536.45 11.36 Significance F 0.0199 5 81,663.55 16,332.71 6 267,200.00 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% 14 Intercept 2,532.42 813.67 3.11 0.03 440.81 4,624.02 15 X Variable 1 0.17 0.05 3.37 0.02 0.04 0.30 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 Flower Paradise's R-squared indicate? 3. Predict van operating costs at a volume of 17,000 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? Print Done Kalyn Tran, owner of Flower Paradise, operates a local chain of floral shops. Each shop has its own delivery van Instead of charging a fat delivery fee. Tran wants to set the delivery fee based on the distance dem to deliver the towers. Tas wants to seperate the fixed and variable portions of her van operating costs so that she has a better idea how delivery datance affects these coets Flower Paradise does a regression analysts on the next year's data using Excel. The bu generated by Excel a as follows (Click the icon to view the regression analysis) Read the eurements