The administrator of LABAID Hospital would like a cost formula linking the administrative costs involved in admitting patients to the number of patients admitted during a month. The Admitting Department's costs and the number of patients admitted during the immediately preceding eight months are given in the following table:

Month

Number of Patient Admitted (X)

Admitting Department Cost (Y)

January

3

Tk.1,800

February

6

Tk.2,300

March

4

Tk.1,700

April

5

Tk.2,000

May

7

Tk.2,300

June

8

Tk.1,700

July

2

Tk.1,200

Required:

i.Use the regression analysis method to estimate the fixed and variable components of admitting costs.

ii.Express the fixed and variable components of admitting costs as a cost formula in the form Y = a + bX