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Kim Reynolds, owner of FlowerPower, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Reynolds wants to set the delivery fee based on the distance driven to deliver the flowers. Reynolds 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: (see picture)

Requirements

1. Prepare a scatter plot of Flower PowerFlower Power's volume (miles driven) and van operating costs.

2. Does the data appear to contain any outliers? Explain.

3. How strong of a relationship is there between miles driven and van operating costs?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92593090
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