You have been given the following information about the power cost for the Lily Company. Month | Machine Hours | Power Cost January 2,800 $16,100 February 2,600 15,500 March 2,880 16,500 April 2,760 16,100 May 2,840 16,350 June 2,320 14,300 July 1,840 12,400 August 1,640 11,560 September 2,920 16,700 October 3,400 18,600 November 3,280 18,100 December 2,960 16,850

Given the equations for the method of least squares: V = [(XY)-(X)(Y)/n]/[(XX)-(X)(X)/n] F = (Y)/n-V[(X)/n]

REQUIRED:

1. Using the high-low method, the power cost predicted for a month in which 2,500 machine hours were worked would be (6 marks):

2. Using the method of least squares, the power cost predicted for a month in which 2,000 machine hours were worked would be (9 marks):