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How would the cost function be stated

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Problem 1: Brian Clough is a manager at Burton Albion Ltd. He uses the high-low method to estimate electricity cost, which varies in relation to machine hours. Based on the following data, how would the cost function be stated if X is the number of labour hours?

Month           Electricity Expense                Labour Hours

Jun                           $ 645                             820

Jul                             $ 650                             800

Aug                           $ 750                              1800

Sep                              $ 690                              1000

Select one:

Option 1: $650 + $0.10X

Option 2: $470 + $0.50X

Option 3: $570 + $0.10X

Option 4: $525 + $0.35X

Reference no: EM132614710

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