The Shannon Valley manufacturing plant used regression-correlation to evaluate cost behavior. Using sample data for 20 weeks, the controller regressed prime production costs against the number of units manufactured. The following regression data were obtained:
\(a=\$ 3,430\)
\(b=\$ 35.60\)
\(r=.94\)

a. Write the equation for the regression line.

b. Discuss the meaning of, \

(a, b\), and \(r\).

c. How much variation in the value of the dependent variable can be explained by changes in the value of the independent variable?

d. If anticipated production for next week is 900 units, what are the estimated prime costs for the week?