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James is trying to determine if there is a relationship between machine hours and utility costs

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Question;James is trying to determine if there is a relationship between machine hours and utility costs. He has gathered financial information from the last six months as follows:Month Machine Hours Utility Costs1 2000 9002 2800 14203 3200 12004 3000 12005 2200 13006 2400 1000Required:A. Using either the high-low method or regression analysis, determine the equation for a line. (Note: You will receive 5 extra credit points if you use regression analysis.)B. James believes that in month 7 the machine hour volume will be 3600 hours. Determine the expected utility cost.

 

Paper#54674 | Written in 18-Jul-2015

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