Estimate the values of a and b using
1. the high-low method, and
2. the linear regression method.
Please use Microsoft Excel to report the following:
a. values of a and b.
b. a scatter plot of the data points.
Maintencance cost = a + (b*Machine Hours)
Attached: Data sheet.xls
Skills: budgeting & forecasting, business analysis, job costing, accounting, data interpretation