Preparing a Scattergraph
Wendy’s Widgets builds the world’s best widgets. Information for the last eight months follows:
Month | Number of Widgets Produced | Total Cost |
January | 4,000 | $7,000 |
February | 2,250 | 5,000 |
March | 3,500 | 6,250 |
April | 4,300 | 7,750 |
May | 1,875 | 5,000 |
June | 3,000 | 6,250 |
July | 1,500 | 4,250 |
August | 2,500 | 5,750 |
Prepare a scattergraph by plotting Wendy’s data on a graph. Then draw a line that you believe best fits the data points. Using the graph and line you have drawn, estimate Wendy’s total fixed cost per month.
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