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Cost estimation using regression analysis. Milky Chocolates has observed the following overhead cost for the past 12 months a. Plot the data and the regresion
Cost estimation using regression analysis. Milky Chocolates has observed the following overhead cost for the past 12 months
a. Plot the data and the regresion line
b. Estimate total monthly costs for a month when 10, 200 boxes of chocolate are produced.
Month Overhead Boxes of Output Costs January February March April May June July August September October November December $11,400 4,500 15,600 11,000 16,800 12,000 12,000 14,100 15,600 10,500 13,200 12,300 15,600 11,500 12,900 14,400 8,500 15,000 5,500 9,000 7,500 5,000 6,000 10,000
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