The manager of the main laboratory facility at MetroHealth Center (from E6-31A) collects seven additional months of
Question:
Use the Excel to do the following:
Requirements
1. Run a regression analysis.
2. Determine the lab's cost equation (use the output from the regression analysis you performed using Excel).
3. Determine the R-square using the Excel output you obtain. What does the lab's R-square indicate?
4. Predict the lab's total overhead costs for the month if 2,500 tests are performed.
Transcribed Image Text:
Number of Lab Total Laboratory Month August September October November Tests Performed 2,900 3,100 2,800 2,500 3,600 2,600 3,200 Overhead $26,700 $26,200 $25,800 $24,300 $27,650 $23,700 $25,900 January February
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Req 1 Req 2 y 310x 1659025 Req 3 The Rsquare is 0745 This indicates ...View the full answer
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