Problem 7 A cost accountant has derived the following data on the weekly output of standard size boxes from a factory. Output Total cost Week (thousands) (thousand dollars) 40 (a) Determine the regression equation from which we can predict the total cost in terms of the weekly production. (4%) (b) In the following week it is planned to produce 15,000 standard size boxes. Estimate the total cost of producing this quantity. (1%) (c) Compute the linear correlation coefficient. Interpret the result. (3%)