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 equation of the line using the high-low method and this data?
A)$564 = 180 + (1.2X)
B)X = 180+ ($1.20Y)
C)Y = $180 + ($1.2 X)
D)Y = $180 + (1.20 x 320)

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 equation of the line using the high-low method and this data?
A)$564 = 180 + (1.2X)
B)X = 180+ ($1.20Y)
C)Y = $180 + ($1.2 X)
D)Y = $180 + (1.20 x 320)

Quizplus · Accepted Answer

The high-low method involves taking the highest and lowest values for both X and Y and using them to calculate the slope. The highest value for X is $320 and the lowest is $180, while the highest value for Y is 11eb11f1_5402_eb95_ad38_832d69c4510b_TB1239_00 and the lowest is 00. Plugging these values into the slope equation gives:

slope = (11eb11f1_5402_eb95_ad38_832d69c4510b_TB1239_00 - 00)/($320 - $180)
slope = 11eb11f1_5402_eb95_ad38_832d69c4510b_TB1239_00/$140

Using point-slope form with one of the data points (let's use the highest point):

Y - 11eb11f1_5402_eb95_ad38_832d69c4510b_TB1239_00 = (11eb11f1_5402_eb95_ad38_832d69c4510b_TB1239_00/$140)(X - $320)

Simplifying:

Y = 11eb11f1_5402_eb95_ad38_832d69c4510b_TB1239_00/140 * X + (11eb11f1_5402_eb95_ad38_832d69c4510b_TB1239_00 - (11eb11f1_5402_eb95_ad38_832d69c4510b_TB1239_00/140) * $320)

Y = $180 + ($1.20 X)

Use the Following Information for Questions -What Is the Equation of the Line Using the High-Low