(a) Calculate the product moment correlation coefficient and coefficient of determination and interpret your answers. (b) Find the least squares regression line of total cost on output. (C) State the fixed cost of the factory and the variable cost per unit of production. (d) Predict the total cost if the production level were: 8,500 units (ii) 25,000 units Hence, comment on the accuracy of your estimates 5. The following data taken from a manufacturing company's budget relates to volume of sales and the corresponding expenses. Volume of sales 5 6 7 8 9 10 (000 units) Total expenses 74 77 82 86 92 95 ($'000) (a) Obtain the product moment correlation coefficient. (b) Comment, in the light of your results, on the relationship between volume of sales and the total expenses. (C) Calculate the coefficient of determination and interpret the result. (d) Draw a scatter diagram and comment on the appropriateness of fitting a straight line relationship. By the method of least squares draw the regression line of best fit. (e) What will be the expected total expenses when the volume of sales is 7500 units? (f) If the selling price per unit is $11, at what volume of sales will the total income from sales equal the total expenses