Rick Everet, financial analyst at LMN Corporation is examining the behavior of quarterly tilly costs for budgeting purposes. Everett collects the following data on machine hours worked and utility costs for the past quarters: (Click the icon to view the data) Read the requirements Requirement 1. Estimate the cost function for the quarterly data using the high flow method (Complete all answer boxes) (Aller you ht continue the screen may take you below the beginning of the next step. If so, scroll back up to the top of the step) Requirement 2. Plot and comment on the estimated cost function Platha Ine for the estimated cost function using the high low method The data points for the quarters have already been entered in for you. (Enlarge the graph and use the ine button displayed below to draw the graph) - frete Rick Everet, financial analyst at LMN Corporation, is examining the behavior of quarterly writty costs for budgeting purposes. Everett Colects the following data on machine hours worked and utility costs for the part 8 quarters (Click the icon to view the data) Read the requirements Comment on the estimated cost function by choosing the correct statement to go with each of the evaluation criteria isted below. Economic plausibility O The cost function shows a positive economically plausible relationship between machine hours and utility costs. There is achew out relationship of higher machine hours and stay costs O The cost function shows a negative economically plausible relationship between machine hours and will come. There is not a clear corretnip of higher machine hours and till cos Goodness of O The high low line appears to the data well. The vertical differences between the actual and predicted costs appear to be quite wall O The high-low line appears to note the data wel The vertical diferences between the actual and predicted costs appear to be quite are Slope of Wigh low line The slope of the line appears to be reasonably step indicating that on average utily costs in a quarter vary with machine hours used The slope of the line appears to be unreasonably top indicating that on average will costs in a que do not very with machine hours used Rick Everett, financial analyst at LMN Corporation, is examining the behavior of quarterly utility costs for budgeting purposes. Everett collects the following data on machine hours worked and utility costs for th (Click the icon to view the data) Read the requirements O The cost function shows a negative economically plausible relationship between machine hours and utility costs. There is not a clear-cut relationship of higher machine hours and utility costs. Goodness of fit O The high low line appears to the data well. The vertical differences between the actual and predicted costs appear to be quite small O The high low line appears to not the data well The vertical differences between the actual and predicted costs appear to be quite large Slope of high-low line O The slope of the line appears to be reasonably stop indicating that on average, utility costs in a quarter vary with machine hours used O The slope of the line appears to be unreasonably steep indicating the on average, vilily costs in a quarter do not vary with machine hours used Requirement J. Everett anticipates that LMN will operate machines for 125,000 hours in quarter 9 Calculate the predicted utility costs in quarter using the cost function estimated in requirement1 The predicted maintenance costs would be for quarter 9 a.) - X Data Table egative economically plausible relationship betw hip of higher machine-hours and utility costs Quarter fit the data well. The vertical differences betw not fit the data well. The vertical differences b Quarter 1 Quarter 2 Quarter 3 Quarter 4 Quarter 5 Machine Hours Utility Costs 120,000 $ 265,000 75,000 200.000 110.000 250.000 125.000 290.000 90.000 220.000 115,000 270.000 105,000 275,000 100.000 245.000 to be reasonably stoep Indicating that, on aver to be unreasonably steep indicating that, on a s that L.MN will operate machines for 125,000 Quarter 6 g the cost function estimated in requirement Quarter 7 would be for quarter 9 Quarter 8 Print Done the palette and follow the instructions to create your graph