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Cost accountants often estimate overhead based on the level of production. At the Standard Knitting Company,...

Cost accountants often estimate overhead based on the level of production. At the Standard Knitting Company, they have collected information on overhead expenses and units produced at different plants, and want to estimate a regression equation to predict future overhead. The data are shown in the table below. Overhead 191 170 272 155 280 173 234 116 153 178 Units 40 42 53 35 56 39 48 30 37 40 Develop a regression equation relating level of production to overhead. Predict overhead when 50 units are produced.

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