High-low method determining an equation for electricity

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High-low method, determining an equation for electricity cost, Forecasting electricity cost at a volume using such equation.

Westminster Company has had the following experience over the past five quarters:

a) Using the high-low method, determine an equation for electricity cost (Y) as a function of units produced (X). Assume a linear function.

b) Using your equation, forecast electricity cost at a volume of 29,000 units produced.

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