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Question three Aqualung produces many different dive masks. These dive masks are produced in batches...

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Question three Aqualung produces many different dive masks. These dive masks are produced in batches and set-up costs are incurred for each batch. Aqualung has traditionally used \"number of setups" as the cost driver for these set-up costs. However, Aqualung has hired a new accountant who thinks that either number of set-up hours or number of labour hours might be a better cost driver because each setup requires different set-up hours and each batch requires different labour hours. The following data has been collected: Number Number of Number of Month of set-ups set-up hours labour hours Set-up costs 1 195 920 8,450 $ 52,300 2 240 1,340 17,460 $ 63,850 3 100 580 6,854 $ 28,740 4 220 1,900 26,415 $ 118,420 5 140 1,840 24,670 $ 89,440 6 230 1,950 28,540 $ 106,880 7 210 1,490 19,895 $ 104,810 8 150 600 7,156 $ 45,040 9 185 1,640 21,586 $ 110,520 REQUIRED: Using EXCEL, estimate the simple regression equation for (i) number of set-ups, (ii) number of set-up hours and (iii) number of labour hours; and determine which is the most appropriate cost driver. Explain your answer by referencing the appropriate statistical outputs

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