[solved]-President Small Manufacturing Firm Concerned Continual Growth Manufacturing Costs Past Sev Q39735254

The president of a small manufacturing firm is concerned aboutthe continual growth in manufacturing costs in the past severalyears. The data series of the cost per unit for the firm’s leadingproduct over the past 8 years is as follows:

YearCost/Unit ($)YearCost/Unit ($)118.00527.00222.50628.00330.00736.00426.008

35.00

Develop a simple linear regression model for these data. Whataverage cost increase has the firm been realizing per year? Do notround intermediate calculations. Round your answers to four decimalplaces.

The regression equation is Unit Cost = ____ + ____ Year.

The average cost increase per year is:

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