Refer to the Camp Rainbow data presented in E5-10.

Required:
1. Perform a least-squares regression analysis on Camp Rainbow’s data.
2. Using the regression output, create a cost equation (y = a + bx) for estimating Camp Rain-bow’s operating costs.
3. Using the least-squares regression results, calculate the camp’s expected operating cost if 170 children attend a session.
4. Compare this estimated cost to the actual cost incurred during week 7. Explain why these numbers mightdiffer.

Transcribed Image Text:

Number of Campers 90 118 156 174 188 184 170 156 Week Cost to Run Camp 8,050 8,460 10,900 11,100 13,670 14,300 12,325 11,270