0 Required information Problem 3-14 High-Low Method; Scattergraph Analysis [L02] [The following information applies to the questions displayed below] Travis Metals heats copper ingots to a high temperature by placing them in a large oven. The heated ingots are then run through a shaping machine that forms them into wire. Due to the length oftime it takes the oven to heat up, it is never turned off. When the ingots are placed in the oven the temperature is raised to a higher level. Once they are done being heated the oven temperature is turned back down until a new batch ofingots is ready to be heated. The following information shows the ingots processed and the power costs over the past 10 months Month Ingots Power Cost January 150 $7,100 February 130 $6 , 100 March 120 $6,000 April 140 $6,600 May 170 $7,600 June 160 $7,200 July 110 $5,600 August 100 $4,800 September 90 $5 , 000 October 80 $4 , 000 Problem 3-14 Part1-b 1-b. Do power costs appear to be related to the number of ingots processed in a month? O Yes O No Problem 3-14 Part 2 & 3 Required: 2. Using the highlow method, estimate a cost formula for power costs. Express the formula in the form Y: a + bX. -:-:- 3. Predict total power costs in a month when 180 ingots are processed