Goldstein Corporation manufactures a drink bottle, model CL24. During 2020, Goldstein produced 190,000 bottles at a total cost of $874,000. Young Corporation has offered to supply as many bottles as Goldstein wants at a cost of $4.75 per bottle. Goldstein anticipates needing 206,000 bottles each year for the next few years. Read the requirements. Requirement 1b. Can Goldstein use the answer in requirement 1a to determine the cost of manufacturing 206,000 drink bottles? Explain. Goldstein V take the average manufacturing cost in 2020 to determine the total cost of manufacturing 206,000 drink bottles. The reason is that Requirement 2. Goldstein's cost analyst uses annual data from past years to estimate the following regression equation with total manufacturing costs of the drink bottle as the dependent variable and drink bottles produced as the independent variable: y=$439,000 + $3.00X. During the years used to estimate the regression equation, the production of drink bottles varied from 180,000 to 216,000. Using this equation, estimate how much it would cost Goldstein to manufacture 206,000 drink bottles. How much more or less costly is it to manufacture the bottles rather than to acquire them from Young? Estimate how much it would cost Goldstein to manufacture 206,000 drink bottles, then calculate the cost to purchase the bottles. Estimated cost to make the bottles Cost to purchase the bottles It will cost to purchase the bottles rather than manufacture them in-house. Requirement 3. What other information would you need to be confident that the equation in requirement 2 accurately predicts the cost of manufacturing drink bottles? (Select all that apply.) A. Can Goldstein's competitors manufacture drink bottles at a cost less than Goldstein? B. Is the relationship between total manufacturing costs and quantity of drink bottles economically plausible? OC. How good is the goodness of fit? That is, how well does the estimated line fit the data? D. Does the slope of the regression line indicate that a strong relationship exists between manufacturing costs and the number of drink bottles produced? 1. a. What is the average cost of manufacturing a drink bottle in 2020? How does it compare to Young's offer? b. Can Goldstein use the answer in requirement 1a to determine the cost of manufacturing 206,000 drink bottles? Explain. Goldstein's cost analyst uses annual data from past years to estimate the following regression equation with total manufacturing costs of the drink bottle as the dependent variable and drink bottles produced as the independent variable: 2. y = $439,000 + $3.00x During the years used to estimate the regression equation, the production of drink bottles varied from 180,000 to 216,000. Using this equation, estimate how much it would cost Goldstein to manufacture 206,000 drink bottles. How much more or less costly is it to manufacture the bottles rather than to acquire them from Young? What other information would you need to be confident that the equation in requirement 2 accurately predicts the cost of manufacturing drink bottles? 3