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The controller of the Ijir Company wants you to estimate a cost function from the following two observations in a general ledger account calledMaintenance: MONTH

The controller of the Ijir Company wants you to estimate a cost function from the following two observations in a general ledger account calledMaintenance:

MONTH MACHINE- HOURS MAINTENANCE COSTS INCURRED

JANUARY 5000 $4000

FEBRUARY 10000 5400

Required

1. Estimate the cost function for maintenance.

2. Can the constant in the cost function be used as an estimate of fixed maintenance cost permonth? Explain

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