The manager of the main laboratory facility at Urban HealthCenter is interested in being able to predict the overhead costseach month for the lab. The manager believes that total overheadvaries with the number of lab tests performed but that some costsremain the same each month regardless of the number of lab testsperformed.

After running a regression analysis on the first seven months ofthe​ year, the manager of the main laboratory facility at UrbanHealth Center collects seven additional months of data. The numberof tests performed and the total monthly overhead costs for thelab​ follow:

	Number of Lab Tests	Total Laboratory
Month	Performed	Overhead
August	3,350	$23,500
September	3,700	$27,550
October	3,650	$24,500
November	3,450	$26,400
December	4,200	$28,500
January	2,500	$22,800
February	3,800	$25,350

Use Excel to do the​ following:

1.	Run a regression analysis using data for August throughFebruary.
2.	Determine the​ lab's cost equation​ (use the output from theregression analysis you performed using​ Excel).
3.	Determine the​ R-square using the Excel output you obtain. Whatdoes the​ lab's R-square​ indicate?
4.	Predict the​ lab's total overhead costs for the month if 3,400tests are preformed.

Requirements 1 and 2. Use Excel to run aregression analysis using data for August through February anddetermine the​ lab's cost equation​ (use the output from theregression analysis you perform using​ Excel). ​(Enter all dollaramounts to two decimal​ places.)

y = $

x + $