Put the following steps in order for using the high-low method of estimating a cost function:
A = Identify the cost function
B = Calculate the constant
C = Calculate the slope coefficient
D = Identify the highest and lowest observed values
A)C D A B
B)D C A B
C)A D C B
D)D C B A

Question

Quizplus · Accepted Answer

First, identify the highest and lowest observed values (D). Then, calculate the slope coefficient using these values (C). Next, calculate the constant (B). Finally, identify the cost function (A).

Put the Following Steps in Order for Using the High-Low