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Simba Market, a chain of convenience grocery stores in the the western province, has store hours that fluctuate from month to month as the tourist

Simba Market, a chain of convenience grocery stores in the the western province, has store hours that fluctuate from month to month as the tourist trade in the community varies. The utility costs for one of the companys stores are listed below for the past six months. Month Total Hours of Operation Total Utility Cost January 500 $ 3,120 February 6003,600 March 7504,350 April 4502,950 May 4002,550 June 3502,350 Required 1-a Use the high Low method to estimate the cost behavior for the store's utility costs. Express the cost behavior in formula form (Y =a + b X)1-b. What is the variable cost per hour of operation?. 3-a. Construct an Excel spreadsheet and use the Excel commands to perform a least-squares regression. Estimate the cost behavior for the store's utility cost. Express the cost behavior in formula form. 3-b. What is the variable utility cost per hour of operation? 4. During July, the store will be open 300 hours. Predict the stores total utility cost for July using each of the cost-estimation methods employed in requirements (1) and (3).

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