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1. A. An economist selected a random sample of five firms from a very large industry to study the relationship between total cost and volume

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1. A. An economist selected a random sample of five firms from a very large industry to study the relationship between total cost and volume of production. The following information was obtained: (24 points) i). Estimate the slope and the intercept using the formulas. ii). Interpret your coefficient estimates B. Calculate the coefficient of correlation by the formula and interpret its value

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