EXERCISE 3A-2 Least-Squares Regression (L01, L05) George Caloz & Frres, located in Grenchen, Switzerland, makes prestige high-end custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has observed etching costs (expressed in Swiss Francs, SFr) as follows over the last six weeks: Week 1 2 3 4 5 6 Units 4 3 8 6 7 2 Total Etching Cost SF/18 17 25 20 24 16 SFr120 For planning purposes, management would like to know the amount of variable etching cost per unit and the total fixed etching cost per week. Required: 1. Using the least-squares regression method, estimate the variable and fixed elements of etching cost. 2. Express the cost data in (1) above in the form Y = a + bx. 3. If the company processes five units next week, what would be the expected total etching cost