he owner of the Queensland Restaurant would like to determine the fixed and variable components...
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Accounting
he owner of the Queensland Restaurant would like to determine the fixed and variable components of the restaurant's utility expenses. The owner believes that the variable component of the utilities cost is driven by the number of meals served.
Meals served Utilities cost
January 3,600 P1,560
February 2,000 P1,060
March 2,900 P1,350
April 3,500 P1,500
May 3,900 P1,580
June 2,100 P1,250
July 1,900 P1,100
August 1,000 P 850
September 1,250 P 990
October 1,400 P 880
November 2,600 P1,180
USING EXERCISE 1-8 information ( QUEENSLAND RESTAURANT) compute the expected utilitiescost if 5,200 meals are served, using:
1) THE HIGH-LOW METHOD ANALYSIS (5 POINTS)
2) USING THE LEASE-SQUARES REGRESSION METHOD. (5 POINTS)
*ignore scattergraph method
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