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

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 wants to know the variable etching cost per unit and the total fixed etching cost per

week.

Exercise $5$A$-5$ Part $2$ and $3($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 $Y=a+bx.$

If the company processes fifteen units next week, what would be the expected total etching cost?

Comolete this question by entering your answers in the tabs below.

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

week.

Note: Round your answers to $2$ decimal places.

Fixed etching cost per week

Variable etching cost per unit