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Wheatland Industries_Fixed and Variable cost

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10 points;Wheatland Industries has experienced the following electricity costs over recent months;Cost ($);Units Produced;28,000;15,300;26,500;13,000;31,400;20,000;27,700;14,200;33,600;19,100;25,800;13,900;Required;a) Using the hi/lo method, derive a linear equation describing the behavior of electricity cost;b) Using the equation from part a, compute the expected electricity cost at 18,000 units of production

 

Paper#76140 | Written in 18-Jul-2015

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