Exercise $2$A$-5($Algo$)$ Least$-$Squares Regression $[$LO$2-11]$

George Caloz & Fr$$res$,$ located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the

company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs

as follows over the last six weeks:

For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost

per week.

Exercise $2$A$-5$ Part $2($Algo$)$

Required:

$2-$a$.$ Using the least$-$squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week.

$2-$b$.$ Express these estimates in the form $Y=a+bx.$