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The high-low method results in a cost equation for the straight ine Requirements 2.065 3 po Print Done x wing something to set of stairs thest of the ts The two ends might suggest that the - x Graph/chart Pyd Done ot (Click the icon to view the scatterplot.) Read the requirements ERCHER ON THE MANber of room-nights rented per month and the monthly utilities cost. The data was graphed, resulting in th 1. Based on this scatterplot, how strong of a relationship does there appear to be between the number of room-nights rented per month and the monthly utilises cost? There appears to be a fairly nong relationship between the number of room-nights rented per month and the monthly utilities cost. We can tell this because most of the dam 2. Do there appear to The highest and lowe to check this data to i a fairly strong a fairly weak 3. Suppose manager Using the high-low m a non-existent ? Explain. Bar to be from the rest of the data points. Whether these points are outliers is fore proceeding with any further analysis method using this data. Do you think the resulting cost equation would be very accurate? Explain cost equation. The high-low method results in a cost equation for the straight line The line connecting the myrau uw ua punits will be Ya line representing the rest of the data points. As a result, management may le(Click the icon to view the scatterplot.) Read the requirements TOS OF CHET SN the Mumber of room-nights rented per month and the monthly utilities cost. The data was graphed, resulting in th 1. Based on this scatterplot, how strong of a relationship does there appear to be between the number of room-nights rented per month and the monthly utilities cost? There appears to be a fairly nong relationship between the number of room-nights rented per month and the monthly utilities cost. We can tell this because most of the dam 2. Do there appear to The highest and lowe to check this data to i a fairly strong 3. Suppose manager Using the high-low m a fairly weak a non-existent ? Explain. ear to be from the rest of the data points. Whether these points are outliers is fore proceeding with any further analysis method using this data. Do you think the resulting cost equation would be very accurate? Explain. cost equation. The high-low method results in a cost equation for the straight line The line connecting the granu sow at points will be a line representing the rest of the data points. As a result, management may ented per month and the monthly utilities cost? By utilities cost. We can tell this because most of the data points fall in a step-like pattern, resembling something close to a set of stairs. these points are outliers is These points ar the rest of the points. The two ends might suggest random pattern, dbe very accurate? 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Explain. e highest and lowest volume data points appear to be check this data to make sure it is accurate before proce Suppose management performs the high-low method sing the high-low method will result in a The line connecting the high and low data points will be from the rest of the data points. Whether these points are outliers is extremly off-line not off-line at all somewhat off-line s e resulting cost equation would be very accurate? Explain. method results in a cost equation for the straight line nting the rest of the data points. As a result, management may between the number of room-nights rented per month and the monthly utilities cost? mights rented per month and the monthly utilities cost. We can tell this because most of the data points fall in a step-like pattern, resembling something close to a om the rest of the data points. Whether these points are outliers is analysis. think the resulting cost equation would be very accurate? Explain. high-low method results in a cost equation for the straight line representing the rest of the data points. As a result, management r These points are the rest of the points. Th a matter of judgement The low volume data point is The not a matter of judgement of the cost equation, and ecause most of the data points fall in a step-like pattern, resembling something close to a set of stairs. These points are the rest of the points. The two ends might suggest extremely different from of the not extremely different from The high-volume data point is of the cost equation. close to a set of stairs. e points. The two ends might suggest that the cost behaves in a The high-volume data point is of the cost equation. fashion. Management may wish curvilinear step-like Call tell this because most of the data points fall in a step-like pattern, resembling something close to a set of stairs data points. Whether these points are outliers is cost equation would be very accurate? Explain. esults in a cost equation for the straight line These points are the rest of the points. The two ends m The low volume data point is The high-volume rest of the data points. As a result, managem ind of the cost e connecting the highest and lowest volume data points. that best fits all the volume data points The low volume data point is of the cost equation, and The high-volume data point is slightly high slightly low he cost equation. volume data point is The high-volume data point is and of the cost equation. slightly high slightly low appear to be from the rest of the data points. Whether these p to check this data to make sure it is accurate before proceeding with any further analysis. 3. Suppose management performs the high-low method using this data. Do you think the resulting cost equation would be very cost equation. The high-low method results in a cost equation for t Using the high-low method will result in a The line connecting the high and low data points will be a line representing the rest of the data points. As a res m "flatter" than "not as flat" as Es. Whether these points are outliers is Jation would be very accurate? Explain. a cost equation for the straight line e data points. As a result, management may points are the rest o The low volume data point is of the cost equation, and overestimate the fixed portion overestimate the variable portion underestimate the fixed portion The low volume data point is The high-volume data point is of the cost equation, and of the cost equation. overestimate the variable portion underestimate the variable portion underestimate the fixed portion (Click the icon to view the scatterplot.) Read the requirements HOTS OF CHET EN GAS Mmber of room-nights rented per month and the monthly utilities cost. The data was graphed, resulting in th 1. Based on this scatterplot, how strong of a relationship does there appear to be between the number of room-nights rented per month and the monthly utilities cost? There appears to be a fairly nong relationship between the number of room-nights rented per month and the monthly utilities cost. We can tell this because most of the dam 2. Do there appear to ? Explain. from the rest of the data points. Whether these points are outliers is fore proceeding with any further analysis The highest and lowe ear to be to check this data to i a fairly strong 3. Suppose manager Using the high-low m a fairly weak a non-existent method using this data. Do you think the resulting cost equation would be very accurate? Explain. cost equation. The high-low method results in a cost equation for the straight line The line connecting the myn au uw ua punits will be Yaline representing the rest of the data points. As a result, management may The local Hyatt Place hotel collected seven months of data on the number of room-nights rented per month and the monthly utilities cost. The data was graphed, resulting in the following scatterplot (Click the icon to view the scatterplot.) Read the requirements 1. Based on this scatterplot, how strong of a relationship does there appear to be between the number of room-nights rented per month and the monthly utilities cost? There appears to be a fairly strong relationship between the number of room-nights rented per month and the monthly utilities cost. We can tell this because most of the data points fall in a step-like pattern, resembling something close to a set of stairs 2. Do there appear to be any outliers in the data? Explain. The highest and lowest volume data points spear to be These points are from the rest of the data points. Whether these points are outliers is the rest of the points. The two ends might suggest that the cost behaves in a fashion. Management may wish to check this data to make sure it is accurate before proceeding with any further analysis. 3. Suppose management performs the high-low method using this data. Do you think the resulting cost equation would be very accurate? Explain. Using the high-low method will result in a cost equation. The high-low method results in a cost equation for the straight line The low volume data point is The high-volume data point is The line connecting the high and low data points will be of the cost equation, and a line representing the rest of the data points. As a result, management may of the cost equation