Many companies custom manufacture products based on customers’ specifications. One of the challenges that these companies often face is to figure out how to price these custom products. The difficulty arises from the fact that the customers have to be provided with a price quote before the contract is awarded, and given the variation in the products, the manufacturing company does not have an accurate idea of its costs beforehand. The data in the file Costs.jmp comes from a manufacturer of milled metal components. Currently, the managers quote a price based on experience. However, the company is wondering if data on other factors (on which it has better information beforehand) can help it to arrive at a more accurate estimate of its per unit costs. Historical data on a couple of different factors and the corresponding product costs is provided to you. Conduct a correlation analysis to provide some guidance to the managers.