What would be the best equation using the high-low method

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Reference no: EM132054764

The Illinois Tools Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data:

Month

Cost of Electricity (Y)

Direct Labor-Hours (X)

January

$7,000

 750

April

$7,500

 850

July

$8,500

1,000

October

$7,250

 800

2.     

What would be the best equation using the high-low method?

Reference no: EM132054764

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