The method of least squares was used to develop a cost equation to predict the cost of receiving purchased parts at a video game manufacturer. Ninety-six data points from monthly data were used for the regression. The following computer output was received: Intercept 177,000 Slope The cost driver used was number of parts inspected 285 Required: 1. What is the cost formula? x Total cost of receiving = 5 +($ 2. Using the cost formula from Requirement 1, identify each of the following independent variable, dependent variable, Variable rate per professional hour, and fixed cost per month Independent variable Dependent variable Variable rate per professional hour per part inspected Fixed cost per month 3. Using the cost formula, predict the cost of receiving for a month in which 7.700 parts are inspected. Total cost of receivings