Solve the below problem:
Q: A local authority is investigating the cost of reconditioning its incinerators. Data from 10 randomly chosen incinerators were collected. The variables monitored were the operating time x (in thousands of hours) since last reconditioning and the reconditioning cost y (in £1000). None of the incinerators had been used for more than 3000 hours since last reconditioning. The data are summarised below, Sx = 25.0, Sx 2 = 65.68, Sy = 50.0, Sy 2 = 260.48, Sxy = 130.64.
(a) Find the equation of the regression line of y on x.
(b) Give interpretations of a and b.