Answered step by step
Verified Expert Solution
Question
1 Approved Answer
6. The Kentucky Tools Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data:
6. The Kentucky Tools Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Cost of Electricity (Y) Direct Labor-Hours (X) Month January April July October $7,000 $7,500 $8,500 $7,250 750 850 1,000 800 What would be the best equation using the high-low method? A) Y= $2,000+ $7.50X B) Y $2,500+ $6X C) Y= $1,500+ $8X D) Y $2,000+ $6X
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started