The table below shows the data for the monthly production cost and the units of certain goods manufactured by a certain company

For this data

a) What hypotheses would you establish?

b) Using Excel, run the appropriate Linear regression

c) Write the predictor equation

d) Interpret the slope of your equation

e) How good is your regression model? Explain why.

f) Using your equation from part , predict the total production cost of manufacturing 4200 of these items..

D B Total Production Costs Units Produced 1 2 3 4. 5 6 7 8 $ 230,000 $ 250,000 $ 260,000 $ 220,000 $ 340,000 $ 330,000 $ 200,000 $ 210,000 $ 240,000 $ 380,000 $ 350,000 $ 290,000 3,500 3,750 3,800 3,400 5,800 5,500 2,900 3,300 3,600 5,900 5,600 5,000 9 10 11 12 13 14 D B Total Production Costs Units Produced 1 2 3 4. 5 6 7 8 $ 230,000 $ 250,000 $ 260,000 $ 220,000 $ 340,000 $ 330,000 $ 200,000 $ 210,000 $ 240,000 $ 380,000 $ 350,000 $ 290,000 3,500 3,750 3,800 3,400 5,800 5,500 2,900 3,300 3,600 5,900 5,600 5,000 9 10 11 12 13 14