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One of Varic Companys products goes through a glazing process. The company has observed glazing costs as follows over the last six weeks: Week Units
One of Varic Companys products goes through a glazing process. The company has observed glazing costs as follows over the last six weeks: Week Units Produced Total Glazing Cost 1 8 $ 270 2 5 $ 200 3 10 $ 310 4 4 $ 190 5 6 $ 240 6 9 $ 290 For planning purposes, the companys management wants to know the amount of variable glazing cost per unit and the total fixed glazing cost per week. Required: 1. Using the least-squares regression method, estimate the variable and fixed elements of the glazing cost. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) Fixed cost $ Variable cost per unit $ 2. Express the cost data in (1) above in the form Y = a + bX. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) Y = $ + $ X 3. If the company processes seven units next week, what would be the expected total glazing cost? (Round your intermediate and final answers to 2 decimal places. Omit the "$" sign in your response.) Total expected cost $
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