Corell Transport hauls heavy cargo between several major cities across the country. Rising fuel costs have caused a concern within upper management over future profit levels. Access the file CORELL TRANSPORT containing data for miles driven in thousands and average costs in hundreds of dollars. Using your preferred software, estimate the average cost curve for Corell's operations. Keep in mind that the average cost curve is a ∪-shaped quadratic of the general form AC = f(Q, Q2).

A. Create the required squared term for Q (Miles2 in this case) and
regress AC on Miles and Miles2. Discuss and evaluate the results.

B. At what level of output (Miles) is average cost minimized?

C. Plot the average cost curve.