Question: The below data on the production volume x and total cost y (in dollars) for a particular manufacturing operation were used to develop the estimated

The below data on the production volume x and total cost y (in dollars) for a particular manufacturing operation were used to develop the estimated regression equation = 1,125.33 + 7.84x.

Production Volume (units) Total Cost ($)
400 3,900
450 5,100
550 5,300
600 6,000
700 6,500
750 7,000

The company's production schedule shows that 650 units must be produced next month. What is the point estimate of the total cost (in dollars) for next month? (Round your answer to the nearest cent.)

$_______

Develop a 99% prediction interval for the total cost (in dollars) for next month. (Round your answers to the nearest cent.)

$ _____ to $ _____

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