Here x is the number of units of a product produced during a certain period, and y

Question:

Here x is the number of units of a product produced during a certain period, and y represents total variable costs incurred during the period.

(a) Find the estimated equation for the regression of y on x.

(b) Find the predicted value of y given x = 8.

(c) Find the standard error of estimate.

(d) Find the coefficient of determination r².

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