3. Predict total power costs in a month when 172 ingots are processed?

Required information Problem 3-14 High-Low Method; Scattergraph Analysis (LO2] (The following information applies to the questions displayed below.) Travis Metals heats copper ingots to a high temperature by placing them in a large oven. The heated ingots are then run through a shaping machine that forms them into wire. Due to the length of time it takes the oven to heat up, it is never turned off. When the ingots are placed in the oven the temperature is raised to a higher level. Once they are done being heated the oven temperature is turned back down until a new batch of ingots is ready to be heated. The following information shows the ingots processed and the power costs over the past 10 months. Month January February March April May June Ingots 142 122 112 132 162 152 102 92 82 72 Power Cost $6,780 $5,780 $5,689 $6,280 $7,280 $6,880 $5,280 $4,480 $4,689 $3,680 July August September October Problem 3-14 Part 2 & 3 Required: 2. Using the high-low method, estimate a cost formula for power costs. Express the formula in the form Y = a + bx. Y =