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Scatter Diagrams and High - Low Cost Estimation Assume the local Pearle Vision has the following information on the number of sales orders received and
Scatter Diagrams and HighLow Cost Estimation
Assume the local Pearle Vision has the following information on the number of sales orders received and orderprocessing costs.
NOTE: Round variable cost per unit answers to two decimal places, if appropriate.
a Use information from the high and lowvolume months to develop a costestimating equation for monthly orderprocessing costs.
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b Plot the data on a scatter diagram. Hint: In Excel, highlight the data to be included in the chart. Open the insert tab and select the Scatter chart in the Charts group. Using the information from representative
high and lowvolume months, develop a costestimating equation for monthly orderprocessing costs.
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