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Use the following information # Machine Maintenance Month Hours (X) Costs (Y) Jan 3,000 $440 Feb 4,500 $690 Mar 8,000 $510 Apr 7,000 $600 May
Use the following information
# Machine Maintenance
Month Hours (X) Costs (Y)
Jan 3,000 $440
Feb 4,500 $690
Mar 8,000 $510
Apr 7,000 $600
May 6,000 $550
Jun 9,000 $980
Jul 3,500 $840
Aug 5,500 $600
Using the high-low methods, calculate the fixed cost and variable cost (show steps of calculation) and present both the slope and cost equation.
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