January $1,600$ $$42,000$

February $7,200$ $$65,000$

March $3,920$ $$59,000$

April $1,200$ $$37,200$

May $3,200$ $$58,000$

June $2,600$ $$54,000$

July $2,200$ $$51,200$

August $3,600$ $$62,000$

September $4,560$ $$64,000$

October $5,880$ $$63,000$

November $6,560$ $$64,000$

December $800$ $$33,000$

Questions:

$1.$ Determine the cost estimation model using the high$-$low method.

$2.$ Estimate the Total Cost for next month assuming production of $5,500$ frames

using the cost estimation model from $(1)$

$3.$ Determine the cost estimation model using the method of least squares$/$regression

analysis.

$4.$ Estimate the Total Cost for next month assuming production of $5,500$ using the

cost estimation model$/$regression analysis from $(3)$

$5.$ Determine the coefficient of determination$/$R $2.$ What does this measure

tell you about the cost estimation model from $(3)$