ELMO, a manufacturer of electric motors, has just purchased a machine tool for winding coils of electric motors. Initial trials with the machine indicate that the number of rejects produced varies with the running speed of the machine. The result of the six trials for various speed settings are as follows: Rejects have to be scrapped. The material cost of each coil is $2.60. The machine operator is paid at a rate of $22/hour. It costs $6 to operate the machine for one hour, 10.000 good coils have to be produced for a given type of motor. The total cost of producing this batch is used as the performance measure for setting the machine speed Develop the model to solve this problem by calculating cost to operate the winder at 30, 40, 50, 60, 70, 80 and 90 coils per hour. Use EXCEL to solve this problem and send me a copy of your spreadsheet Bring it to class next week and we'll go on from here