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Stratton, Inc., has collected the following information on its cost of electricity: Machine Hours Total Electricity Costs January 510 $240 February 540 $300 March 360

Stratton, Inc., has collected the following information on its cost of electricity:

Machine Hours Total Electricity Costs

January

510 $240

February

540 $300

March

360 $205

April

450 $215

May

660 $290

June

690 $300

July

340 $180

August

520 $260

September

240 $120

October

750 $340

November

840 $360

December

600 $320

(a) & (b)

Assuming the line intersects the y-axis at $50 and using the August activity levels, calculate the equation of the line that would be drawn for a scattergraph. (Round variable cost to 3 decimal places, e.g. 15.251 and fixed cost to 0 decimal places, e.g 15.)

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