a. Develop a regression equation to forecast the cost per thousand gallons as a function of the number of thousands of gallons produced. The forecasting model is given by the equation Y=-X (Enter your responses rounded to two decimal places.) b. What are the correlation coefficient and the coefficient of determination? The sample correlation coefficient is I (Enter your response rounded to two decimal places.) The coefficient of determination is (Enter your response rounded to two decimal places.) Comment on your regression equation in light of these measures. The increases in X mostly result in in Y. Also, % of the variation in Y is explained by X. (Enter your response rounded to the nearest whole number.) C. Suppose that the market survey indicates a demand of 325,000 gallons in the Bucyrus, Ohio, area. Estimate the manufacturing cost per gallon for a plant producing 325,000 gallons per year. The forecasted manufacturing cost per gallon is $ (Enter your response rounded to two decimal places.) Ohio Swiss Milk Products manufactures and distributes ice cream in Ohio, Kentucky, and West Virginia. The company wants to expand operations by locating another plant in northern Ohio. The size of the new plant will be a function of the expected demand for ice cream within the area served by the plant. A market survey is currently under way to determine that demand. Ohio Swiss wants to estimate the relationship between the manufacturing cost per gallon and the number of gallons sold in a year to determine the demand for ice cream and, thus, the size of the new plant. The following data have been collected: Plant 2 Cost per Thousand Gallons (Y) $1.004 993 1,040 1,006 1,045 1,068 987 997 1,031 1,022 $10,193 Thousands of Gallons Sold (X) 404.6 479.0 270.1 372.1 248.3 258.6 614.2 414.0 277.3 383.3 3,721.5 8 9 10 Total a. Develop a regression equation to forecast the cost per thousand gallons as a function of the number of thousands of gallons produced