Develop an equation for utility costs in the form y

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Reference no: EM131810194

The following table is for utility costs and units produced in a factory for the last twelve quarters.

	Cost	Units
1		160,660	17,000
2		202,600	19,500
3		163,030	15,900
4		219,500	21,300
5		169,320	17,900
6		171,430	18,400
7		213,050	22,000
8		191,500	18,700
9		169,540	16,700
10		161,530	16,400
11		187,270	18,300
12		177,830	17,300

a) Using the high/low method, develop an equation for utility costs in the form Y = a +bX

b) Using your answer to a), predict utility costs at a volume of 20,000 units.

Reference no: EM131810194

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