EXERCISE 3A-l Least-Squares Regression [I L02, L04] oXcel The head of the radiology department at Majestic River Hospital in Woodstock. New Brunswick. believes the utility costs incurred in her department are a mixed cost. She thinks that utility costs are likely related to how many patients per month receive a CAT scan. The scanner uses a large amount of electricity and can't be turned off because of how long it takes to warm up for each use on a patient. When the scanner is used on a patient a burst of electricity is consumed. After each use on a patient. the scanner goes into a sleep mode and consumes a small amount of electricity. Data on the number of scans per month and monthly utility costs for the past year are provided below. \\IIJIITII \ miu] x:f\\t'.r1|- 1 HIM} ( II-T Required: 1. Prepare a scattergraph plot. Is the number of CAT scans likely a good predictor of total utility costs? 2. Using leastsquares regression. estimate the xed cost and variable cost elements of monthly utility costs. Estimate the xed cost element to the nearest dollar and the variable cost element to the nearest cent