Chapter $6$ Problem $1$VF Company manufactures ornate frames for original artwork. The company beganoperations in January. The owner has asked you to help her understand the nature ofthe cost behavior in hopes of helping better price the frames. Below are the costs permonth associated with production since January:Month Number of Frames Total CostJanuary $1,600$ $$42,000$February $7,200$ $$65,000$March $3,920$ $$59,000$April $1,200$ $$37,200$May $3,200$ $$58,000$June $2,600$ $$54,000$July $2,200$ $$51,200$August $3,600$ $$62,000$September $4,560$ $$64,000$October $5,880$ $$63,000$November $6,560$ $$64,000$December $800$ $$33,000$Questions:$1.$ Determine the cost estimation model using the high$-$low method$\mathrm{.}2.$ Estimate the Total Cost for next month assuming production of $5,500$ framesusing the cost estimation model from $(1)3.$ Determine the cost estimation model using the method of least squares$/$regressionanalysis$\mathrm{.}4.$ Estimate the Total Cost for next month assuming production of $5,500$ using thecost estimation model$/$regression analysis from $(3)5.$ Determine the coefficient of determination$/$R$2.$ What does this measuretell you about the cost estimation model from $(3)$