Use the high-low method to answer the following question related to estimating the line equation that represents
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Question:
Use the high-low method to answer the following question related to estimating the line equation that represents the data (show work and circle answers).
1. Calculate b (slope of the equation). Round to nearest penny.
2. Calculate a (intercept of the equation). Round to nearest dollar. As discussed in class, due to rounding, your answers might be slightly different if you try both the high and low levels to calculate a.
3. Show the estimated line equation in the form Y = a + bX. If you obtained due slightly different answers in part 2 due to rounding, using either one is acceptable here.
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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