8-36 Cost estimation: Ethan Manufacturig Inc. produces floor mats for automobiles. Joseph Ethan has asked you to assit in estimating maintenance costs. Together you and Joseph determine that the single best cost driver for maintenance costs is machine hours. These data are from the previous fiscal year for maintenance expense and machine hours.

Month Maitenance expense Machine hours

1 2,600 1,690

2 2,760 1,770

3 2,910 1,850

4 3,020 1,870

5 3,100 1,900

6 3,070 1,880

7 3,010 1,860

8 2,850 1,840

9 2,620 1,700

10 2,220 1,100

11 2,230 1,300

12 2,450 1,590

Requirment 1: what is the cost equation for maintenance using the high-low method? Graph the data points to check for outliners, alos do the single linear regression chart method and the caclulation method using the data Analysis tool in excel

Please attach answers as an excel doc attchment that is viewable!