You have been presented with the following cost data and asked to fit a statistical cost function.

Quantity            Total Cost

10                     104

20                     107

30                     109

40                     111.5

50                     114.5

60                     118

70                     123

80                     128.5

90                     137

100                   150

To create the graphs in excel, should the regression analysis tool under the Data analysis tab? How is the Trend line added to the graph?

1. Fit three possible statistical cost functions to the data. Use straight-line, quadratic, and cubic formulas.