Joe Bauer Inc. specializes in the painting of older homes and employs several painters. It is essential for Joe Bauer to have accurate cost estimates so he can estimate painting costs before he accepts a job.
Joe has been using the homes square feet for his paint cost estimates. Recently, he decided to use the number of openings (total number of doors and windows) in a house as a cost driver since the cost of painting trim work around doors and windows is significant.
Joe has kept records of his past 12 jobs:
Job	Sq. feet	Openings	Cost ($)
1	2600	13	3300
2	3010	15	3750
3	2800	12	3100
4	2850	12	3150
5	4050	19	4700
6	2700	13	3250
7	2375	11	2800
8	2450	11	2800
9	2600	10	2875
10	3700	16	4100
11	2650	13	3200
12	3550	16	3950
Question:
Joe has been offered a job to paint a 3400 square foot home with 14 openings for $4,000. If Joe has a minimum acceptable profit margin of 20% over cost, should he accept the job. Explain your answer?