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Calculate the predicted utility costs in quarter nine

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Reference no: EM133036064

Question - ?Nathan Gibbon, financial analyst at ?Corporation, is examining the behavior of quarterly utility costs for budgeting purposes.

Quarter

Machine-Hours

Utility Costs

Quarter 1

95,000

$255,000

Quarter 2

50,000

190,000

Quarter 3

85,000

240,000

Quarter 4

100,000

300,000

Quarter 5

65,000

210,000

Quarter 6

90,000

280,000

Quarter 7

80,000

265,000

Quarter 8

75,000

235,000

Required -

1. Estimate the cost function for the quarterly data using the? high-low method.

2. Plot and comment on the estimated cost function.

3. Gibbon anticipates that LMN will operate machines for 100,000 hours in quarter 9. Calculate the predicted utility costs in quarter 9 using the cost function estimated in requirement 1.

Reference no: EM133036064

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