Savitt Ltd manufactures a variety of products at its industrial site in Bosongo. One of the products, the LT, is produced in a specially equipped factory in which no other production takes place. The costs of producing LTs in the special factory during the past four years have been as follows: 1998 £ 70,000 40,000 132,000 Raw materials Skilled labour Unskilled labour Power Factory overheads Total production costs Output (Units) 160,000 25,000 168,000 435,000 1999 £ 100,000 71,000 173,000 33,000 206,000 583,000 190,000 2000 £ 130,000 96,000 235,000 47,000 246,000 754,000 220,000 2001 £ 132,000 115,000 230,000 44,000 265,000 786,000 180,000 Required: Use simple linear regression analysis to estimate the relationship of total production costs to volume (the regression line of the form y = a + bx) for the product LT for the year 2002. NB: Do not undertake a separate regression calculation for each item of cost.​