A company want to find out if there is a linear relationship between indirect labor expense (ILE), in dollars, and

direct labor hours (DLH). Data for direct labor hours and indirect labor expense for 25 months are given.

Using the estimated regression equation found by using DLH as the predictor variable, find a point estimate for Indirect Labor Expense usage when the Direct Labor Hours is 40?

DLH(X) ILE(Y) 20 361 25 355 22 376 23 384 20 374 19 311 24 427.2 28 387.5 26 450.8 29 475.2 27 462.6 22 333.3 26 389.9 25 445 28 511 32 501.1 33 544.9 35 423.8 34 574.1 30 535.4 36 444.7 37 578.4 37 399.6 31 355 20 313