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Please review this question as it has nothing to do with the Hi_low method that you sent. I need help with the 5 step scattergraph.
Please review this question as it has nothing to do with the Hi_low method that you sent. I need help with the 5 step scattergraph. See question again.
The city of Rockville reported the following annual cost data for maintenance work performed on its fleet of trucks.Scattergraph Method.Refer to the data in the previous exercise for the city of Rockville.
- Use the scattergraph method to estimate total fixed costs per year and the variable cost per mile. State your results in the cost equation form Y =f+vX by filling in the dollar amounts forfandv.
- What would the estimated costs be if the trucks drove 500,000 miles in year 7?
Reporting Period (Year) | Total Costs | Level of Activity (Miles Driven) |
Year 1 | $750,000 | 225,000 |
Year 2 | 850,000 | 240,000 |
Year 3 | 1,100,000 | 430,000 |
Year 4 | 1,150,000 | 454,000 |
Year 5 | 1,250,000 | 560,000 |
Year 6 | 1,550,000 | 710,000 |
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