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The PlySide Shop wants to develop a cost estimating equation for its monthly cost of water. It has the following data: Cost of Water (Y) Direct Labor-Hours (X) $26,000 Month March June $30,000 September $34,000 December $29,000 3.000 3.400 4,000 3.200 What would be the best equation using the high-low method?

The PlySide Shop wants to develop a cost estimating equation for its monthly cost of water. It has the following data: Cost of Water (Y) Direct Labor-Hours (X) $26,000 Month March June $30,000 September $34,000 December $29,000 3.000 3.400 4,000 3.200 What would be the best equation using the high-low method?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The PlySide Shop wants to develop a cost estimating equation for its monthly cost of water. It has the following data: Cost of Water (Y) Direct Labor-Hours (X) $26,000 Month March June $30,000 September $34,000 December $29,000 3.000 3.400 4,000 3.200 What would be the best equation using the high-low method?
Transcribed Image Text:The PlySide Shop wants to develop a cost estimating equation for its monthly cost of water. It has the following data: Cost of Water (Y) Direct Labor-Hours (X) $26,000 Month March June $30,000 September $34,000 December $29,000 3.000 3.400 4,000 3.200 What would be the best equation using the high-low method?
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