LO.4 (Least squares) UpTop Mining has compiled the following data to analyze util-ity costs:MonthMachine HoursUtility CostJanuary200$300February325440March400480April410490May525620June680790July820840August900900Use the least squares method to develop a formula for budgeting utility cost.

Given data to analyse utility costs :

Answered: .4 (Least squares) UpTop Mining has…

.4 (Least squares) UpTop Mining has compiled the following data to analyz costs: onth Machine Hours Utility Cost muary 200 $300 pruary 325 440 rch 400 480 ril 410 490 y 525 620 ne 680 790 820 840

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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LO.4 (Least squares) UpTop Mining has compiled the following data to analyze util-
ity costs:
Month
Machine Hours
Utility Cost
January
200
$300
February
325
440
March
400
480
April
410
490
May
525
620
June
680
790
July
820
840
August
900
900
Use the least squares method to develop a formula for budgeting utility cost.

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