High-Low Method and Scatter graph Analysis
1.) Using the high-low method, estimate a cost formula for utilities. Express the formula in the form Y=a+bX). (The variable rate should be stated in terms of cost per scan).
2.) Prepare a scattergraph using the above data. (The number of scans should be placed on the horizontal axis, and utilities cost should be placed on the vertical axis). Fit a straight line to the plotted points using a ruler and estimate a cost formula for utilities using the quick-and-dirty method. c
Excel file shows Scattergraph using the quick-and-dirty method and cost formula for utilities using high -low method.
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