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The following six months of data were collected on electricity cost and the number of machine hours in a factory. Month Electricity cost Machine hours
The following six months of data were collected on electricity cost and the number of machine hours in a factory.
Month | Electricity cost | Machine hours |
June | $25,160 | 4,500 |
July | 26,170 | 4,810 |
August | 27,250 | 5,120 |
September | 26,680 | 5,010 |
October | 27,950 | 5,430 |
November | 27,500 | 5,190 |
Refer to Figure 3-13. An independent variable value used in calculating the cost line using the high-low method is:
a.$27,950
b.4,000
c.5,430
d.$25,160
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