roduction Volume (units) Total Cost ($) 400 4200 450 5200 550 5600 600 6100 700 6600 750 7200 Compute b1 and b0 (to 1 decimal). b1 b0 Complete the estimat

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Production Volume (units) Total Cost ($)
400 4200
450 5200
550 5600
600 6100
700 6600
750 7200

Compute b1 and b0 (to 1 decimal).

b1

b0

Complete the estimated regression equation (to 1 decimal).

=  + x

According to this model, what is the change in cost (in dollars) for every unit produced (to 1 decimal)?

Compute the coefficient of determination (to 3 decimals). Note: report r2 between 0 and 1.

r2 =

What percentage of the variation in total cost can be explained by the production volume (to 1 decimal)?

%

The company's production schedule shows 500 units must be produced next month. What is the estimated total cost for this operation (to the nearest whole number)?

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