Question \#1 Least-Squares Regression, Scatter graph, Comparison of Activity Bases Professor John Morton is reviewing the finance department's cost records, revealing the following total cost associated with Finance 101 over the last five terms: He would like to have the variable and fixed costs separated for planning purposes. 1. Prepare a scatter graph plot in Excel. (Plot total cost on the vertical axis and number of sections offered on the horizontal axis.) See separate instructions for how to create a Scatter Plot. Copy and paste your image here (you can also use the snipping tool). 2. (a) Using the least-squares regression method, estimate the variable cost per section and the total fixed cost per term for Finance 101. Fixed Cost per term = Variable Cost per section = (b) Express these estimates in the form Y=a+bX : 3. (a) Assume that because of the small number of sections offered during the Winter Term this year, Professor Morton will have to offer eight sections of Finance 101 during the Fall Term . Compute the expected total cost for Finance 101. Question \#1 Least-Squares Regression, Scatter graph, Comparison of Activity Bases Professor John Morton is reviewing the finance department's cost records, revealing the following total cost associated with Finance 101 over the last five terms: He would like to have the variable and fixed costs separated for planning purposes. 1. Prepare a scatter graph plot in Excel. (Plot total cost on the vertical axis and number of sections offered on the horizontal axis.) See separate instructions for how to create a Scatter Plot. Copy and paste your image here (you can also use the snipping tool). 2. (a) Using the least-squares regression method, estimate the variable cost per section and the total fixed cost per term for Finance 101. Fixed Cost per term = Variable Cost per section = (b) Express these estimates in the form Y=a+bX : 3. (a) Assume that because of the small number of sections offered during the Winter Term this year, Professor Morton will have to offer eight sections of Finance 101 during the Fall Term . Compute the expected total cost for Finance 101