Shown below are 15 data points relating to the Receiving cost and tons of material for Acme Manufacturing Receiving Tons of Observation Cost Material 1 $67,100 47,300 2 75,200 68,200 3 92,200 93,500 4 88,600 79,200 5 87,700 96,800 6 80,200 49,500 7 98,000 73,700 8 67,600 40,700 9 68,500 46,200 10 78,500 63,800 11 71,700 50,600 12 80,300 48,400 13 78,000 55,000 14 80,000 69,300 15 93,800 53,900 Required: a. Using the High-Low method, determine the cost equation for receiving costs. (4 pts) b. Use the equation in part a. to estimate receiving costs when the tons of material are estimated to be 65,000. (3 pts) c. Using the following regression output, determine the cost equation for receiving costs. (4 pts) d. Use the equation in part c. to estimate receiving costs when the tons of material are estimated to be 65,000. (3 pts) SUMMARY OUTPUT Regression Statistics Multiple R 0.671274134 R Square 0.450608963 Adjusted R Square 0.408348114 Standard Error 7535.387923 Observations 15 ANOVA df SS MS F Significance F Regression 1 605442408.4 605442408.4 10.66256295 0.006143918 Residual 13 738166925 56782071.15 Total 14 1343609333 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 56893.61139 7484.606643 7.60141636 3.89518E-06 40724.10179 73063.12098 40724.10179 73063.12098 X Variable 1 0.37816027 0.115809742 3.265358013 0.006143918 0.127968533 0.628352008 0.127968533 0.628352008