1. Draw a scatter diagram of the cost data.2. Visually fit a cost line to the scatter diagram.

| June 14, 2018


1.    Draw a scatter diagram of the cost data.


2.    Visually fit a cost line to the scatter diagram.


3.    Estimate the variable and fixed components of the department’s cost behaviour pattern using the visually fit cost line and specify an equation to express the department’s cost behaviour.

4.    Estimate the cost behaviour using the high-low method. Use an equation to express the results of this estimation method.

5.    Compute the least-squares regression estimate of the variable and fixed-cost components. All manual calculations will need to be shown. This will incorporate the following calculations.
•    The coefficients of both the intercept and x variable
•    The coefficient of determination, r2 measures the percentage of variation in Y explained by X (the independent variable). I.e. the proportion of the change in the dependent variable that is explained by the change in the independent variable.
•    Standard Error of Estimate: A measur

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