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Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y = $ 0.26 x+ $1,263.34 Requirement 2. Determine the R-squared (use the output from the Excel regression). The R-squared is 0.838871 What does Rose Red's R-squared indicate? The R-squared indicates that the cost equation explains 83.9% of the variability in the data. In other words, it fits the data quite well. to predict total costs at other volumes within the same relevant range. Rose Red should the company can rely on this cost estimate. feel confident using this cost equation Requirement 3. Predict van operating costs at a volume of 15,000 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? (Round your answer to the nearest cent.) The operating costs at a volume of 15,000 miles is $ 5,163.34 Should the company rely on this cost estimate? Why or why not? Since the R-squared is over 80

Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y = $ 0.26 x+ $1,263.34 Requirement 2. Determine the R-squared (use the output from the Excel regression). The R-squared is 0.838871 What does Rose Red's R-squared indicate? The R-squared indicates that the cost equation explains 83.9% of the variability in the data. In other words, it fits the data quite well. to predict total costs at other volumes within the same relevant range. Rose Red should the company can rely on this cost estimate. feel confident using this cost equation Requirement 3. Predict van operating costs at a volume of 15,000 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? (Round your answer to the nearest cent.) The operating costs at a volume of 15,000 miles is $ 5,163.34 Should the company rely on this cost estimate? Why or why not? Since the R-squared is over 80

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Karen Jungemann, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Jungemann wants to set the delivery fee based on the distance driven to deliver the flowers. Jungemann wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Read the requirements. Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y = X + Data table (…) Month Miles Driven Van Operating Costs January...... 15,900 $5,430 February.. 17,300 $5,740 March 14,600 $4,940 April 16,300 $5,270 May 17,200 $5,820 June 15,200 $5,400 July ......... 14,300 $4,990 - X
Transcribed Image Text:Karen Jungemann, owner of Flower Direct, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Jungemann wants to set the delivery fee based on the distance driven to deliver the flowers. Jungemann wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Read the requirements. Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) y = X + Data table (…) Month Miles Driven Van Operating Costs January...... 15,900 $5,430 February.. 17,300 $5,740 March 14,600 $4,940 April 16,300 $5,270 May 17,200 $5,820 June 15,200 $5,400 July ......... 14,300 $4,990 - X
Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) $ 0.26 x+ $ 1,263.34 y = Requirement 2. Determine the R-squared (use the output from the Excel regression). The R-squared is 0.838871 What does Rose Red's R-squared indicate? The R-squared indicates that the cost equation explains 83.9% of the variability in the data. In other words, it fits the data quite well. to predict total costs at other volumes within the same relevant range. Rose Red should the company can rely on this cost estimate. feel confident using this cost equation Requirement 3. Predict van operating costs at a volume of 15,000 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? (Round your answer to the nearest cent.) The operating costs at a volume of 15,000 miles is $ 5,163.34 Should the company rely on this cost estimate? Why or why not? Since the R-squared is over .80
Transcribed Image Text:Requirement 1. Determine the company's cost equation (use the output from the Excel regression). (Round the amounts to two decimal places.) $ 0.26 x+ $ 1,263.34 y = Requirement 2. Determine the R-squared (use the output from the Excel regression). The R-squared is 0.838871 What does Rose Red's R-squared indicate? The R-squared indicates that the cost equation explains 83.9% of the variability in the data. In other words, it fits the data quite well. to predict total costs at other volumes within the same relevant range. Rose Red should the company can rely on this cost estimate. feel confident using this cost equation Requirement 3. Predict van operating costs at a volume of 15,000 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? (Round your answer to the nearest cent.) The operating costs at a volume of 15,000 miles is $ 5,163.34 Should the company rely on this cost estimate? Why or why not? Since the R-squared is over .80
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