Use the following data to generate a quote model for future business. This can be accomplished by performing a high-low or regression analysis to generate an equation relating direct labor hours to product cost:

Year	Quarter	Direct labor hrs.	Manufacturing cost
2014	Q1	2,512	$224,950
2014	Q2	2,432	$214,100
2014	Q3	2,645	$226,840
2014	Q4	2,723	$228,760
2015	Q1	2,355	$211,950

Within your analysis, make sure to include the following:

• Explain how jobs can be estimated by using a quote model based on previous data.
• Discuss the different methods of cost estimation.
• Prepare a bid for a job that would require 2,700 direct labor hours.