Assignment:
|
Month
|
Number of Scans
|
Utilities Cost
|
|
January
|
20
|
$5,000.00
|
|
February
|
50
|
$6,000.00
|
|
March
|
80
|
$7,000.00
|
|
April
|
60
|
$6,450.00
|
|
May
|
100
|
$7,490.00
|
|
June
|
70
|
$6,500.00
|
|
July
|
30
|
$5,500.00
|
|
August
|
10
|
$4,880.00
|
|
September
|
40
|
$5,550.00
|
|
October
|
90
|
$7,000.00
|
Question 1.) Using the high-low method, estimate a cost formula for utilities. Express the formula in the form Y=a+bX). (The variable rate should be stated in terms of cost per scan).
Question 2.) Prepare a scattergraph using the above data. (The number of scans should be placed on the horizontal axis, and utilities cost should be placed on the vertical axis). Fit a straight line to the plotted points using a ruler and estimate a cost formula for utilities using the quick-and-dirty method.