Crane, Inc., has collected the following information on its cost of electricity: Machine Hours Total Electricity...

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Crane, Inc., has collected the following information on its cost of electricity: Machine Hours Total Electricity Costs January 500 $240 February 540 $310 March 370 $190 April 470 $210 May 670 $290 June 710 $340 July 330 $170 August 510 $260 September 230 $118 October 760 $320 November 860 $370 December 600 $330 (a) Identify the high and low points. High point Low point Machine Hours $ Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.) Variable cost $ per machine hour (b) Compute the total fixed cost of electricity. (Round answer to 2 decimal places, e.g. 52.75.) Fixed cost $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) Represent the electricity cost function in equation form. (Round answers to 2 decimal places, e.g. 52.75.) Total cost = $ eTextbook and Media Save for Later MH + $ Attempts: 0 of 3 used Submit Answer (d) What is the expected electricity cost when 760 machine hours are used? (Round answer to 2 decimal places, e.g. 52.75.) Total cost $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer Crane, Inc., has collected the following information on its cost of electricity: Machine Hours Total Electricity Costs January 500 $240 February 540 $310 March 370 $190 April 470 $210 May 670 $290 June 710 $340 July 330 $170 August 510 $260 September 230 $118 October 760 $320 November 860 $370 December 600 $330 (a) Identify the high and low points. High point Low point Machine Hours $ Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.) Variable cost $ per machine hour (b) Compute the total fixed cost of electricity. (Round answer to 2 decimal places, e.g. 52.75.) Fixed cost $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) Represent the electricity cost function in equation form. (Round answers to 2 decimal places, e.g. 52.75.) Total cost = $ eTextbook and Media Save for Later MH + $ Attempts: 0 of 3 used Submit Answer (d) What is the expected electricity cost when 760 machine hours are used? (Round answer to 2 decimal places, e.g. 52.75.) Total cost $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer