A store sells pre-cut lengths of materials. A customer wants to determine if there is a linear relationship between the price ($/metre) and length (metres) of the materials. The customer takes a random sample of materials for sale and records the price and length. Excel was then used to create a simple linear regression of price on length. Here is a table of the sample data, with the Excel regression output: Length (metre) Price ($/metre) SUMMARY OUTPUT 30 10 80 7 Regression Statistics 400 5 Multiple R 0.7732 80 7 R Square 0.5979 30 10 Adjusted R Square 0.5711 30 10 Standard Error 1.3744 500 4 Observations 17 80 7 100 6 ANOVA 30 10 MS F Significance F 100 6 Regression 1 42.135 42.14 22.305 0.000 500 4 Residual 15 28.336 1.889 80 7 Total 16 70.471 100 6 80 7 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% 100 6 Intercept 8.575 0.446 19.232 0.000 7.625 9.525 30 10 Length (metre) -0.010 0.002 -4.723 0.000 -0.015 -0.006 a) Write the estimated simple linear regression equation, using the names of the variables. b) Interpret the slope for the customer. C ) Estimate the price of materials that is pre-cut to 1,000 metres in length. Comment on the reliability of your estimate