The following information have been obtained from the records of Kenya King dealing with computer repairs

week	Computers repaired	Costs incurred
1	310	23200
2	200	19500
3	600	23600
4	480	20220
5	400	23600
6	440	18480
7	440	16200
8	330	20200

Required:

1. Use Excel to create a scatter plot and determine the "regression line."
2. Use Excel to add the regression equation and related R² statistic to the scatter plot.
3. What do the figures in b above mean?
4. Use Excel to draw in the "high-low" line, and visually confirm the line by calculating the high-low equation.
5. Visually inspect the scatter plot and comment on which line ("high-low" or "regression") is more representative of the data points.
6. Comment on why the two lines are different.
7. Predict and compare cost estimates for week 9 when 182 computers were repaired using both the "high-low" equation and the "regression" equation.
8. Use the regression analysis feature in Excel to generate a complete regression output
9. What do you say about the Excel output?
10. If you were the manager, which method of cost estimation would you use and why?

(20 Marks)