The following six months of data were collected on electricity cost and the number of machine...
The following six months of data were collected on electricity
cost and the number of machine hours in a factory.
Month |
Electricity cost |
Machine hours |
| June | $25,160 | 4,500 |
| July | 26,170 | 4,810 |
| August | 27,250 | 5,120 |
| September | 26,680 | 5,010 |
| October | 27,950 | 5,430 |
| November | 27,500 | 5,190 |
Refer to Figure 3-13. An independent variable value used in calculating the cost line using the high-low method is:
a.$27,950
b.4,000
c.5,430
d.$25,160
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The following six months of data were collected on electricity
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