21. The cost of building a supermarket is related to the total area of the building. Data for the last 10 supermarkets built for Galaxy, Inc., are shown in the accompanying table.

Building Area (ft2) Cost ($)

1 12,500 700,000 2 13,000 725,000 3 13,500 750,000 4 14,200 800,000 5 15,000 840,000 6 17,000 950,000 7 18,400 1,000,000 8 21,000 1,125,000 9 22,500 1,225,000 10 25,000 1,400,000

a. Develop a CER for the construction of supermarkets.

Use the CER to estimate the cost of Galaxy’s next store, which has a planned area of 23,000 square feet. (3.4)

b. Compute the standard error and correlation coefficient for the CER developed in Part (a). (3.4)