# A golf ball manufacturer knows the cost associated with various hourly production levels, given below.Production Costs for Golf BallsProduction(hundred balls b)Cost(dollars C)24735443111497145311756520623(a) Write a cubic model for the data. (Round all numerical values to three decimal places.)C(b) = 0.0669b3 – 2.899962 + 54.953b + 146.35dollars is the production cost when the hourly production rate is b hundred golf balls 2sbs 20.(b) If 1000 balls are currently being produced each hour, calculate the marginal cost at that level of production. (Round your answer to two decimal places.)\$ 17.25X per hundred ballsInterpret the result. (Round your numerical answer to two decimal places.)At an hourly production level of 1000 golf balls, production cost is increasingby \$ 17.225X per hundred golf balls.

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Step 1

(a)  Use excel and compute the cubic model for the given data as follows.

Step 2

Use cubic regression feature in online calculator and find the least square best fit as follows.

Step 3

(b) Calculate the marginal cost as follows.

In order to find the marginal cost, first ...

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