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An important application of regression analysis is in the estimation of cost . By collecting data on volume and cost and using the least squares

An important application of regression analysis is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, one can estimate the cost associated with a particular manufacturing volume. Consider the following sample of monthly production volumes and total costs data for a manufacturing operation for the year 2018.
\table[[Month,Production Volume (units),Total Costs ($)],[January 2018,500,6,000],[February 2018,350,4,000],[March 2018,450,5,000],[April 2018,550,5,400],[May 2018,600,5,900],[June 2018,400,4,000],[July 2018,400,4,200],[August 2018,350,3,900],[September 2018,400,4,300],[October 2018,600,6,000],[November 2018,700,6,400],[December 2018,750,7,000]]1. calculqtw the pearson correlation coeffieint between production volume
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