A company manufactures electrical devices as well as many replacement parts. In the past, one of the replacement parts has been produced periodically in lots of varying sizes. When a cost improvement program was undertaken, company officials wished to determine the relationship between lot size and labor hours required to produce the lot. Data on lot size and work hours for 25 recent production runs were utilized to get following computer output for the regression model as follows: Predictor Constant Coefficients Std error t-ratio p-value 62.366 26.177 2.382 0.0259 Lot size 3.570 0.347 10.290 4.45 10-10 S = 48.82 R-sq=82.15% R = 0.9064 (a) Write down the equation of the estimated regression line. (b) Interpret the coefficients of the regression line in (a). (c) Use the estimated regression line to predict how many hours required for a lot of size 33. (d) Interpret both of R-Sq and R. (e) What conclusions can you draw about the association between the lot size and work hours.