Scatter Diagrams and High-low Cost Estimation Use the information from the hight and lowvolume mionths to develop a cost estimsting equation for inonthy ishar costs Fot the data of a scatter disgram, Using the infocmation from representative tegh, and iow valuime monthis, use the hightow method to develiop a cost estimsting equstion for monthy fabor costs. Acjust the equation develcped in requiremeat (b) to incorporate the effect of an anticipited 8 pertent ncrease an wages