Estimate the cost to produce 2,000 units.Determine the coefficient of determination (r2).

VOLUME CHEMICAL
You are involved in analyzing the relationship between the cost and the volume
of production. You have collected the following inflation‐adjusted data:
Table 3.12—Volume Chemical Inflation-Adjusted Data
Production Units Costs
700 $61,750
1,450 $64,450
1,500 $66,000
1,750 $69,438
2,100 $73,410
2,150 $75,720
3,050 $79,375
1. Estimate the cost to produce 2,000 units.
2. Determine the coefficient of determination (r2).
3. Determine whether to use this equation for estimating purposes. (yes/no)