Using either the high-low method or regression analysis

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Reference no: EM13576253

Determine if there is a relationship between machine hours and utility costs.

Month	Machine Hours	Utility Costs
1	2000	900
2	2800	1420
3	3200	1200
4	3000	1200
5	2200	1300
6	2400	1000

A. Using either the high-low method or regression analysis, determine the equation for a line. Need step by step please for high and low method and regression method. Need for study reference.

B. In month 7 the machine hour volume will be 3600 hours. Determine the expected utility cost.

C. Do you think machine hours is a good predictor of utility costs? Please explain

Reference no: EM13576253

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