Use the following information for questions
$\begin{array}{c}
\begin{array}{l}\
\text { Month } \
\text { Jan } \
\text { Feb } \
\text { Mar } \
\text { Apr } \
\text { May } \
\text { Jun } \
\text { Jul } \
\text { Aug }
\end{array}
\begin{array}{l}
\text { Labour }&\text { Overhead } \
\underline{\text { Hours (X)}}& \underline{\text { Costs (Y)}}\
200 & \$ 415 \
175 & \$ 385 \
290 & \$ 520 \
300 & \$ 534 \
185 & \$ 403 \
265 & \$ 490 \
160 & \$ 372 \
320 & \$ 564
\end{array}
\end{array}$

-What is the slope of this data, using the high-low method?
A)$1.76
B)$180
C)$1.20
D)$0.83

Question

Use the following information for questions 
 $\begin{array}{c}
\begin{array}{l}\
\text { Month } \
\text { Jan } \
\text { Feb } \
\text { Mar } \
\text { Apr } \
\text { May } \
\text { Jun } \
\text { Jul } \
\text { Aug }
\end{array}
\begin{array}{l}
\text { Labour }&\text { Overhead } \
 \underline{\text { Hours (X)}}& \underline{\text { Costs (Y)}}\
200 & \$ 415 \
175 & \$ 385 \
290 & \$ 520 \
300 & \$ 534 \
185 & \$ 403 \
265 & \$ 490 \
160 & \$ 372 \
320 & \$ 564
\end{array}
\end{array}$

-What is the slope of this data, using the high-low method?
A)$1.76
B)$180
C)$1.20
D)$0.83

Quizplus · Accepted Answer

The high-low method involves taking the highest and lowest values of the independent variable (in this case, labor hours) and their corresponding dependent variable values (overhead costs), then calculating the slope as the change in cost divided by the change in hours. The highest labor hours are 320 with a cost of $564, and the lowest are 160 with a cost of $372. The slope (change in cost/change in hours) is ($564 - $372) / (320 - 160) = $192 / 160 = $1.20 per labor hour.

Use the Following Information for Questions -What Is the Slope of This Data, Using the High-Low