Method of Least Squares, Budgeted Time Period Is Different from Time Period Used to Generate Results The method of least squares was used to develop a cost equation to predict the cost of receiving purchased parts at a video game manufacturer. Ninety-six data points from monthly data were used for the regression. The following computer output was received: Intercept Slope 195,800 345 The cost driver used was number of parts inspected. Required: 1. What is the cost formula for a year? Total annual cost of receiving = ( S )+($ ) 2. Using the cost formula from Requirement 1, predict the cost of parts inspection for a year in which 15,700 parts are inspected. Total annual cost of receiving = $