Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of 2010.
a.Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. Round intermediate and final calculations to the nearest cent.
Y = $+ $X
b.What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 165 shipments are received? Round intermediate and final calculations to the nearest cent.
Y = $