Cisco Systems Inc. analyzes service costs using the scattergraph method. In April 2036, the company collects data on service hours and costs:

• Service hours: 1,000, 2,000, 3,000, 4,000, 5,000
• Costs: $50,000, $90,000, $120,000, $150,000, $180,000

Required:

• Plot the scattergraph.
• Estimate the cost equation using the method of least squares.