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Brewsky's is a chain of micro breweries. Managers are interested in the costs of the stores and believe that the costs can be explained in large part by the number of customers patronizing the stores. Monthly data regarding customer visits and costs for the preceding year for one of the stores have been entered into the regression analysis and the analysis is as follows 1,462 $ 4,629 Average monthly customer visits Average monthly total costs Regression Results Intercept b coefficient R2 $ 1,496 $ 2.08 0.86814 In a regression equation expressed as y= a + bx, how is the letter b best described? (CMA adapted) ...oice An estimate of the probability of return customers lultiple Choice An estimate of the probability of return customers. The fixed costs per customer visit lo The estimate of the cost for an additional customer visit. O The proximity of the data points to the regression line. The controller of Fortnight Co has requested a quick estimate of the manufacturing supplies needed for the Cleveland Plant for the month of July, when production is expected to be 500,000 units to meet the ending inventory requirements and sales of 505,000 units Fortnight Co's budget analyst has the following actual data for the last three months Month March April May Production Manufacturing in Units Supplies 465,000 $706,860 570,000 853,860 510,000 767,010 Using the high-low method to develop a cost estimating equation, the total estimated cost of needed manufacturing supplies for July would be (CMA adapted) Multiple Choice $700,000 $700,000. $707,000. O $762,860. $755,860