An accountant wishes to predict direct labor cost (y) on the basis of the batch size (x) of a product produced in a job shop. Data for 12 production runs are given in the table below, along with the Excel output from fitting a least squares regression line to the data. Direct Labor Cost Data Direct Labor Batch Cost, y ($100s) Size, X 71 5 663 62 381 35 138 12 861 83 145 14 493 46 548 52 251 23 1024 100 435 41 772 75 Click here for the Excel Data File Batch Size Line Fit Plot 1000 + LaborCost = 18.488 + 10.146*BSize 300 600 Labor Cost 400 200 20 40 60 80 100 Batch Size (a) Calculate b1 and bo. (Round intermediate steps to 4 decimals places.) b1 bo(b) Interpret the meanings of be and 121. Does the interpretation of be make practical sense? buismslmm mHm wismeesumam _rorevemunmncmsem (c) Write the least squares prediction equation. (Round your answers to 4 decimal places.) _-H (d) Use the least squares line to obtain a point estimate of the mean direct labor cost for all batches of size 60 and a point prediction of the direct labor cost for an individual batch of size 60. {Round your answer to 3 decimal places.) yhat(60) = _ hundreds of dollars