Question: 15 10 5 2 3 4 5 6 7 8 Year Time series Linear trend b. Use Excel to develop a simple linear regression model

15 10 5 2 3 4 5 6 7 8 Year Time series Linear

15 10 5 2 3 4 5 6 7 8 Year Time series Linear trend b. Use Excel to develop a simple linear regression model for these data. What average cost increase has the firm been realizing per year? Do not round intermediate calculations. Round your answers to four decimal places. The regression equation is Unit Cost = + Year. The average cost increase per year is $ 2.92 Hide Feedback Partially Correct Hint(s) Check My Work Hint(s) Check My Work The president of a small manufacturing firm is concerned about the continual growth in manufacturing costs in the past several years. The data series of the cost per unit for the firm's leading product over the past eight years is as follows: Year Year Cost/Unit ($) Cost/Unit ($) 22.00 1 5 26.50 2 26.00 6 29.70 3 30.50 7 30.60 4 28.30 8 34.60 a. Choose the correct graph for the time series and linear trend. The correct graph is graph DV

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