Individual regression analysis (Please type up your answers and label the questions clearly. Please upload to turnitin.com for originality check. No need to do a length report. Short essay answers are preferred. ) TJ's Cheese Cake Factory, Inc. sells original cheese cake for $16 each. The company provided the following units and total cost data concerning its cake sales for each month during 2011: Cost Units January 55,000 2,500 February 59,000 2,800 March 60,000 3,000 April 64,000 4,200 May 67,000 4,500 June 71,000 5,500 July 74,000 6,500 August 77,000 7,500 September 75,000 7,000 October 68,000 4,500 November 62,000 3,100 December 73,000 6,500 a. Use the linear regression method to estimate fixed and variable costs. Excel has a function that you can use (I have posted these data in excel on Blackboard for your convenience). Print out the regression output and attach to this test. b. Interpret and evaluate your regression model and results. Write out the cost formula. Estimate total costs in a month when 6,000 cakes are produced and sold. Estimate total profit in a month when 6,000 cakes are produced and sold. e. You are working on the budget for October 2012 and expect 10,000 cakes will be produced and sold. Estimate total costs in a month when 10,000 cakes are produced and sold. Will you use the estimated cost in your budget? Why? f. How does linear regression differ from the high-low method in estimating fixed and variable costs? Discuss the pros and cons of each