1. Would the high-low method or regression analysis result in a more accurate cost equation for the data pictured in the scatter plot? Explain.
2. A regression analysis of the data revealed an R-squared figure of 0.939. Interpret this figure in light of the lowest and highest possible R-squared values.
3. As a manager, would you be confident predicting utilities costs for other room-night volumes within the same relevant range?
Refer to the Holiday Inn scatter plot in S6-12.