Hello tutor give me answer The Fairmont Machine Shop wants to develop a costestimating equation for its monthly cost of electricity. It hasthe following data:Month Cost of Electricity (Y) Direct Labor-Hours (X)January $14,000April$15,000July$17,0001,5001,7002,0001,600October $14,500What would be the best equation using the high-lowmethod?a. Y = $4,000+ $7Xb. Y$0$9Xc. Y$1,000+ $8Xd. Y = $5,000+ $6X

Step 1: Define High-Low MethodThe total cost incurred by a firm can be decomposed into two…

Answered: The Fairmont Machine Shop wants to…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

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Chapter14: Capital Structure Management In Practice

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