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You are involved in an analysis of the relationship between the cost of chemicals

used in a manufacturing process and the volume of production. You have

collected the following production usage data over the last five years and

adjusted it for the effects of inflation:

Table 3.8—Production Usage Data

Production Units Chemical Costs

4 $800

15 $1,200

20 $1,400

30 $1,800

50 $2,000

1. Estimate the cost to produce 26 units. (Hint: Use the regression template.)

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