Using high-low method find out the equation for electricity, Ask an Expert

Accounting

Q1) Westminster Company has had following experience over past five quarters:

Units produced	Electricity cost ($)
27,000	101,000
32,000	120,000
31,000	116,000
20,000	84,000
22,000	90,000

a) Using high-low method, find out the equation for electricity cost (Y) as function of units produced (X). Suppose a linear function.

b) Using your equation, predict electricity cost at the volume of 29,000 units produced.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M917810

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