Sylvia Jackson, a colleague of yours, ran a regression analysis on some cost data for a local bakery, but she is unsure how to interpret the results. She has given you the following output from her Microsoft Excel spreadsheet.

Based on this output, answer the following questions (round all answers to two decimal places): a. What is the firms total fixed cost? b. What is the firms variable cost per unit? c. What is the firms total cost equation? d. Based on the data provided, should the analyst have confidence in the estimated total cost equation? Why or why not? e. Compute total costs if the firm sells 10,000 units. f. Compute total costs if the firm sells 20,000 units. g. If the firms product sells for $2.00, how many units does the firm need to sell to break even? h. If the firms product sells for $2.00 and it sells 8,000 units, compute total profit?

Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations ANOVA 0.956284779 0.914480578 0.905928635 289.2759941 12 df Regression Residual Total SS MS F Significance F 8948175.992 8948175.992 106.9325018 1.16817E-06 10 836806.0079 83680.60079 9784982 Coefficients Standard Error t Stat P-value Lower 95% 968.650259 170.0100132 5.697607105 0.000198961 589.8442779 1.413553607 0.136696508 10.34081727 1.16817E-06 1.108974755 11 Intercept Units