2. Use the data in the spreadsheet attached in the email with this exam to: a. Estimate the cost function using regression analysis b. Do the parameters make sense to you? Why? c. Write a one-page memo to your boss explaining your regression analysis and how it would be useful to your company? d. Is regression analysis a better method to estimate the cost function that the others discussed in the book/class? Why? e. Can you use the results of the regression to accurately predict production costs? Why? A B 1 Observation Total Cost (000s) C Units of Production(000s) 2 1 75 12 3 2 83 18 4 3 65 8 5 4 76 13 6 5 90 20 7 6 92 21 8 7 96 24 9 8 102 23.6 10 9 100 26 11 10 112 32 12 11 105 24 13 12 115 33 14 13 128 39 15 14 125 34 16 15 132 36 17 16 144 45 18 17 156 54 19 18 150 50 20 19 161 55 21 20 163 57 22 21 165 59 23 22 166 59.5 24 23 170 72 25 24 174 75 26 25 176 76 27 26 172 73 28 27 180 79 29 28 184 82 30 29 185 83 31 30 188 88 32 31 190 90 33 32 193 93 34 33 195 96 35 34 199 98 36 35 201 101 37 36 205 104 38 37 207 105 39 38 210 107 40 39 215 111 41 40 219 115 42 41 223 120 43 42 225 125 44 43 231 132 45 44 243 141 46 45 248 148 47 46 252 155 48 47 267 165 49 48 289 185 50 49 297 192 51 50 312 221 D E F G H