Question - Assume the Paul's Custom Print Shop has the following information on the number of sales orders received and order-processing costs.
Month Sales Orders Order-Processing Costs
Jan 450 $6,000
Feb 225 4,200
Mar 690 9,750
Apr 420 5,850
May 345 4,800
Jun 150 3,000
Jul 300 4,500
a) Develop a cost estimation equation for monthly production costs using the regression method. You may use a statistics program to make the calculations or you may use the graph formatting function in Excel.