An important application of regression in manufacturing is the estimation of cost of

production. Based on DATA from Ajax Widgets relating cost (Y) to volume (X), what is the cost per widget?

Production Volume (units)	Total Cost ($)
400	5424
450	5657
550	5759
600	7294
700	7583
750	8603
425	5311
475	6093
575	6662
625	7380
725	7784
775	8588

Choose your answer from the following:

a) 7.54

b) 8.75

c) 7.38

d) None of the answers are correct

e) 8.21