Week $3$ Question $7$

Gator Beach Marts, a chain of convenience grocery stores in the Fort Lauderdale area, has store hours that fluctuate from month to month as the tourist trade in the community varies. The utility costs for one of the company's stores are listed below for the past six months. Total Hours Total Utility Month Of Operation January Feb ruary Ma rch April May June 55 6 8 45 4 Cost $3,47 3, 7ee 4, 7ee 3,300 2,900 2,7 Use the high-low method to estimate the cost behavior for the store's utility costs. Express the cost behavior in formula form ariable cost per hour Construct an Excel spreadsheet and use the Excel commands to perform a least-squares regression. Estimate the cost behavior for the store's utility cost. Express the cost behavior in formula form. (Do not round intermediate calculations. Round the intercept to the nearest whole number and the slope to two decimal places.) ariable utili cost Cost Predictions per hour High-low method Least-square regression