On November 15, 2009, Sandra Cook, a newly hired cost analyst at Thomas Company, was asked to predict overhead costs for the company's operations in 2010, when 500 units are expected to be produced. She collected the following quarterly data: (Click the icon to view the quarterly data.) Requirements 1. Using the high-low method to estimate costs, prepare a prediction of overhead costs for 2010. 2. Sandy ran a regression analysis using the quarterly data she collected. The result was: Y = $329+ $5.80X. Using this cost function (based on quarterly data), predict overhead costs for 2010. 3. Which prediction do you prefer? Why? Requirement 1. Using the high-low method to estimate costs, prepare a prediction of overhead costs for 2010. Begin by estimating the cost function for a quarter year using the high-low method. (Enter the quarterly fixed cost rounded to two decimal places and the variable cost rounded to four decimal places.) Y = X 2023 8:30am Data table Production Overhead - X Quarter in Units Costs 1/06 77 S 723 2/06 80 717 no 3/06 67 629 lec 4/06 137 1,133 sts 1/07 126 2/07 129 225 1,003 1.113 3/07 126 1,121 4107 Re 134 1,044 re a 1108 125 1,002 Be h-lo 2108 130 1068 dec Print Done ung-Soring 2023 8:30am) is based on Homgren/Sundam/Schatzberg introd 2023 8:30am [3] Data table - X Dr Ov 4/06 137 1,133 ol 1/07 126 1,003 2/07 129 1,113 212 Re 3/07 126 1,121 1. n 4/07 134 1,044 1/08 125 1,002 st 3. 2/08 130 1,068 3/08 116 998 4/08 85 959 1/09 85 837 Re re 2/09 123 1052 Be h- 3:09 91 993 TO de es Print Done unting Soring 2023 8:30am) is based on Homgren/Sundam Schatzberg