Riverside LLC. provides recovery services for homeowners following fires and natural disasters. Riverside LLC would like to be able to estimate costs for a potential job to assist in determining the bid price. The company has four three-man crews and has accumulated the following data for a recent month of activity.

a. Use the High-Low method and estimate the linear cost relationship.

b. If the manager believes a job would take 72 hours, what are the estimated costs?

c. Management also used regression techniques and estimated a slope of 42.7 and an intercept of 634.9. The R? for the model

as 94.5%. What is the cost function based on this information?

d. Compare the results from using high-low and regression methods above. Which one is better? Why?

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