The management of Buff Sports Stadium believes that the number of sporting events each month is an measure of activity for total clean-up cost. Shown below are event figures and total clean up costs for the past four months: Required:
a. Estimate Buff's cost formula for monthly clean-up cost using the high-low method.
b. Estimate Buff's cost formula for monthly clean-up cost using the least-squares regression method.

Question

The management of Buff Sports Stadium believes that the number of sporting events each month is an measure of activity for total clean-up cost. Shown below are event figures and total clean up costs for the past four months:  Required:
a. Estimate Buff's cost formula for monthly clean-up cost using the high-low method.
b. Estimate Buff's cost formula for monthly clean-up cost using the least-squares regression method.

Quizplus · Accepted Answer

The Answer of The management of Buff Sports Stadium believes that the number of sporting events each month is an measure of activity for total clean-up cost. Shown below are event figures and total clean up costs for the past four months:  Required:
a. Estimate Buff's cost formula for monthly clean-up cost using the high-low method.
b. Estimate Buff's cost formula for monthly clean-up cost using the least-squares regression method.

The Management of Buff Sports Stadium Believes That the Number