Question: a. What is the cost estimation equation using the data above? b. What is the estimated cost of producing 500 units? c. Is machine hours

a. What is the cost estimation equation using the data above?

b. What is the estimated cost of producing 500 units?

c. Is machine hours reliable in estimating manufacturing costs in this example? Why or why not give one reason based on the statistical data provided in the table above.

***Please help with this problem. Can you please show your work so I can understand the answer. Thank you!!**

13. (6 points) The following data relates the machine hours incurred in the production process. The company is considering machine hours to estimate manufacturing costs. Variable Coefficient Constant 115 Independent variable 230 r2 = 0.82 Standard Error 82.73 105.50 t-Value 1.39 2.18

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