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Assume the following data (where the XXX is the last three digits of your panther id): M onth Machine Hours (hrs .) Maintenance Costs (35)

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Assume the following data (where the XXX is the last three digits of your panther id): M onth Machine Hours (hrs .) Maintenance Costs (35) 1 1,330 102,331 2 1,400 103,331 3 1,250 103,331 4 1,470 108,331 5 1,620 1 1 6 ,3 3 1 6 1,680 1 1 5 ,3 3 1 7 1,490 107,331 8 1,280 101,331 9 1,450 106,331 10 1,580 113,331 1 1 1,300 100,331 12 1,600 113,331 13 1,650 113,331 14 1,440 109,331 15 1,350 102,331 16 1,670 114,331 17 1,480 106,331 18 1,360 103,331 19 1,340 103,331 20 1,540 112,331 21 1,320 102,331 22 1,410 104,331 23 1,270 101,331 Assume that the following relationship holds : Maintenance Costs : a + (b * Machine Hours ) REQUIRED Estimate the values of a and b, using , 1. the High -Low Method , and 2. the Linear Regression method.(for help try \"Linear Regression in Excel" on YouTube) Note , to use the linear regression method ,you MUST use the Microsoft Excel program Make sure to report a. the values of a and b; b. a scatter plot of the data points , and c. the Rsquare or the adjusted R-square 3. Which of the above two methods is more appropriate ? Why ? (3 sentences maximum )

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