Determine an equation for electricity cost

Reference no: EM1376353

Briefly describe your answer and clearly, showing any necessary computations.
Your answer should be in an Excel file.
1. Westminster Corporation has had the following experience over the past five quarters:
Units produced Electricity cost ($)
27,000 101,000
32,000 120,000
31,000 116,000
20,000 84,000
22,000 90,000
a) Using the high-low method, determine an equation for electricity cost (Y) as a function of units produced (X). Assume a linear function.
b) Using your equation, forecast electricity cost at a volume of 25,000 units produced.

Reference no: EM1376353

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