View the step-by-step solution to:

please answer if you are only 100% sure the answer is right Answers should be answered within 75 minutes MAX It can be hand written as long as it is

please answer if you are only 100% sure the answer is right

Answers should be answered within 75 minutes MAX 

It can be hand written as long as it is clear.

you can submit if you have answers ready earlier


a) Data with respect to the cost of equipment repairs have been collected for various hours of operation and are given below:

HOURS                        COST               HOURS                        COSTS

1,500                $8,500               1,300                $7,500

1,700                  9,500              1,800                  10,000

1,400                  8,000              1,600                  9,000

1,200                  7,000              1,400                  8,000

1,000                      6,000

 1. -  By the high-low point method, estimate the variable cost per hour and the fixed cost and express the relationship in an equation form.

2. -  Estimate the equipment repair cost at a level of 1,900 hours.

Sign up to view the entire interaction

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question