Exercise 5A-5 (Static) Least-Squares Regression [LO5-11]

George Caloz & Frres, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the companys products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks:

Exercise 5A-5 Part 2 (Static)

2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week.

2-b. Express these estimates in the form Y = a + bX.

Required Information Exercise 5A-5 (Static) Least-Squares Regression [LO5-11] George Caloz \& Frres, located in Grenchen, Switzerland, makes Iuxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: For planning purposes, management would like to know the varlable etching cost per unit and the total fixed etching cost per week. Exercise 5A-5 Part 2 (Static) 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost week. 2-b. Express these estimates in the form Y=a+bX Complete this question by entering your answers in the tabs below. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. (Round your answers to 2 decimal places.)