Please see the attached file.
Explain your answer briefly and clearly, showing any necessary calculations.
Your answer should be in an Excel file.
1. Westminster Company has had the following experience over the past five quarters:
Units produced Electricity cost ($)
a) Using the high-low method, determine an equation for electricity cost (Y) as a function of units produced (X). Assume a linear function.
b) Using your equation, forecast electricity cost at a volume of 25,000 units produced.
Help is given to forecast electricity cost.