The Regression option of the Excel Analysis ToolPak was used to determine the relationship between total cost and production units. The results are shown below. What is the regression equation? How well does the model fit the data? What is the total cost for 1,200 units?

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SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations ANOVA Regression Residual Total Intercept Production Units df 0.93 0.87 0.86 6163.22 12 Coefficients SS MS 1 2585890234.80 2585890234.80 10 379852265.20 37985226.52 11 2965742500.00 24287.01 76.62 Standard Error 10548.62 9.29 t Stat 2.30 8.25 F Significance F 68.08 8.97597E-06 P-value 0.04 0.00 Lower 95% 783.21 55.93 Upper 95% 47790.80 97.32