Plot the data and the regression line

Reference no: EM13903242

Cost estimation using regression analysis. Milky Chocolates has observed the following overhead costs for the past 12 months:

Month	Overhead Costs	Boxes of Output
January	$11,400	4,500
February	15,600	11,000
March	16,800	12,000
April	12,000	5,500
May	14,100	9,000
June	15,600	10,500
July	13,200	7,500
August	12,300	5,000
September	15,600	11,500
October	12,900	6,000
November	14,400	8,500
December	15,000	10,000

The results of the regression analysis are:

TC ¼ $8,781 þ ð$0:63 x Number of BoxesÞ

a. Plot the data and the regression line.

b. Estimate total monthly costs for a month when 10,200 boxes of chocolate are produced.

Reference no: EM13903242

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