1. FogWill installs carpeting in residential homes. The company would like to be able to estimate the costs for a potential job in order to better prepare bids. The following information is extracted from the company records over the past year. 1-story home 2-story home Largest job 4,000 square feet - $8,300 6,000 square feet - $10,600 Smallest job 800 square feet - $2,100 1,200 square feet - $3,400 Average job 2,100 square feet - $4,100 3,400 square feet - $5,200 1. Use the High-Low method and estimate the linear cost relationship for both home styles. 2. If the manager estimates the required carpet for a one-story job is 2,000 square feet, what are the estimated costs? 3. Compare the high-low and regression method to a regression technique. Which one is better? Why?