The data table below gives the distance (x, in miles) and the cost (y, in dollars) of a round trip flight from Boston to 11 other selected destinations. It is of interest to determine if there is a relationship between the cost of a flight and the distance traveled. From the data, it is found that the equation of the regression line is LaTeX: \hat{y}=166.75 + 0.08 x and the correlation coefficient is LaTeX: r=0.831. Use this information to answer the remainder of the questions on the test.
Use the regression equation to predict the cost of traveling 2300 miles?