6. Production cost forecasting. Production costs for a large number of pre- vious orders of varying sizes for a product are in the file production. x];19. Imports and healthcare spending. An analyst creates a scatter plot for the value of goods imported into the United States in the years between 1990 and 2001 versus the total private spending on health care in the US during those years. The correlation equals 0.975, and the slope of the regression line for predicting health care spending from imports equals 0.8. If tariffs are used to reduce imports by $50 billion dollars, approximately what type of reduction in health care spending is to be expected from this? Explain briefly.SECTION 7. EXERCISES Table 6.1. An excerpt from the file production. xIs. Order size (units) Cost ($) 983 51275 798 40808 527 38195 1049 49989 780 37299 831 55707 857 43168 1316 58435 1737 76411 1511 65020 Table 6.2. An excerpt from the file jobs. xls. Job # Billable hours Total cost including materials 680 123757 450 85920 520 98450 740 122800 880 128544 650 122957 250 82746 84262 270 121967 770 116384 570 the product