Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of 2013. Number of Shipments Received Weekly Cost of Receiving Reports 50 $175 44 162 40 154 35 142 53 185 58 200 60 202 a. Using the high-low method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. b. What is the predicted amount of receiving report costs for a week in which 72 shipments are received?
Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of 2013. Number of Shipments Received Weekly Cost of Receiving Reports 50 $175 44 162 40 154 35 142 53 185 58 200 60 202 a. Using the high-low method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. b. What is the predicted amount of receiving report costs for a week in which 72 shipments are received?
Chapter6: Merchandising Transactions
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LO.4 (High-low method) Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of 2013.
Number of Shipments Received |
Weekly Cost of Receiving Reports |
50 | $175 |
44 | 162 |
40 | 154 |
35 | 142 |
53 | 185 |
58 | 200 |
60 | 202 |
a. Using the high-low method, develop the equation for predicting weekly receiving report costs based on the number of shipments received.
b. What is the predicted amount of receiving report costs for a week in which 72 shipments are received?
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