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    forecast electricity cost

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    1. Westminster Company has had the following experience over the 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 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.

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    Solution Summary

    Help is given to forecast electricity cost.