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Valentine is a manufacturer of fine chocolates. Recently, the owner, Melinda Gross, asked her controller to perform a regression analysis on production costs. Melinda believes

Valentine is a manufacturer of fine chocolates. Recently, the owner, Melinda Gross, asked her controller to perform a regression analysis on production costs. Melinda believes that pounds of chocolate produced drive all of the company's production costs. The controller generated the following regression output:

RSquare 0.50688
Standard Error 1.43764
Analysis of Variance
DF Sum of Squares Mean Square
Regression 1 418.52992 481.52992
Residual 197 407.16375 2.06682
F= 202.49935 Signif.F= 0.0000
Variables in the Equation
Variable Coefficients Standard Error tStat P-Value
Pounds 7.940 0.055794 14.230 0.0000
Intercept 205.070 0.261513 20.780 0.4361

Required:

Calculate an estimated total cost, assuming that Valentine manufactures 5,000 pounds of chocolate. Round to the nearest whole dollar. $________?______

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