TIME SENSITIVE

PLEASE HELP

Q7

Raymond and Reena are partners in a driver's ed business, providing a much-needed service to want-to-be-drivers in their region. They have been satisfied with the profits their business has generated to date, but they'd like to have more reliable estimates for future costs. Believing that the most certain cost driver for their total costs is number of students served, they gathered the following data for the past year. Month 1 2 3 4 5 6 7 8 9 10 11 12 Number of Students Y = $ 42 49 38 45 52 55 58 51 60 63 54 56 Total Costs $12,500 13,000 14,200 15,000 14,800 14,600 16,200 14,700 15,200 17,000 16,400 15,000 (a2) Use the regression analysis to estimate a cost function for total monthly driver's ed costs based on number of students. (Round answers to 2 decimal places, e.g. 15.25.) 123.63 X+ $ 8,465.09 (c2) Using the model created above, predict next month's driver's ed costs if Raymond and Reena expect to serve 62 students. (Round answer to 2 decimal places, e.g. 15.25.) Next month's driver's ed costs $

Raymond and Reena are partners in a driver's ed business, providing a much needed service to want to-be-drivers in their region. They have beensatished with the profits their business has generated to date, but theyd like to have more reliable estimates for future costs, Believing that the most certain cost driver for their total costs is number of students served, they gathered the following data for the past year: (a) Use the regression analysis to estimate a cost function for total monthiy driver's ed costs based on number of students. (Round answers to 2 decimal places, eg. 15.25.) y=$x+s (c) 2 Using the model created above, predict next month's driver's ed costs if Raymond and Reena expect to serve 62 students. (Round) anower to 2 decimal places, es. 15.25.) Nextmonth's driver's ed costs