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 159,700 Slope The cost driver used was number of parts inspected. 325 Required: 1. What is the cost formula for a year? Total annual cost of receiving = 2. Using the cost formula from Requirement 1, predict the cost of parts inspection for a year in which 13,400 parts are inspected. Total annual cost of receiving - 225 7/18/