Month
Machine Hours (hrs.)
Maintenance Costs ($)
1
1,330
102,694
2
1,400
103,694
3
1,500
108,694
4
1,470
5
1,620
116,694
6
1,690
115,694
7
1,490
107,694
8
1,310
9
1,450
106,694
10
1,580
113,694
11
1,300
100,694
12
1,600
13
1,650
114,694
14
1,440
109,694
15
1,340
16
1,670
17
1,480
18
1,360
19
20
1,540
112,694
Assume that the following relationship holds:
Maintenance Costs = (v * Machine Hours) + f
REQUIRED
Estimate the values of v and f and the cost equation,using,
1. the High-Low Method, and
Make sure to report
1. The values of v and f;
2. A scatter plot of the data points, and
3. The adjusted R-square; explain what the adjustedR-square means.
4. The cost equation in the form of Y = vx + f,substituting the values for v and f from the regressionoutput.
YOUR SUBMISSION MUST BE INEXCEL.
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