For 1 and two, please do the high-low method

you do not need to follow 1 and 2 but rather please do 1 and 2 using the high-low method

PROBLEM 5A-6 Least-Squares Regression; Scattergraph; Comparison of Activity Bases LO5-11 The Hard Rock Mining Company is developing cost formulas for management planning and decision-making purposes. The company's cost analyst has concluded that utilities cost is a mixed cost, and he is attempting to find a base that correlates with the cost. The controller has suggested that tons mined might be a good base to use in developing a cost formula. The production superintendent disagrees; she thinks that direct labor-hours would be a better base. The cost analyst has decided to try both bases and has assembled the following information: Direct Tons Labor-Utilities Mined Hours Cost Quarter Year 1: First Second Third . .. 11,000 3,000 21,000 4,000 $60 Year 2: Second 25,000 9,000 $105,000 e 252 Required 1. Using tons mined as the independent variable, prepare a scattergraph that plots tons mined on the horizontal axis and utilities cost on the vertical axis. Using the least-squares regression method, estimate the variable utilities cost per ton mined and the total fixed utilities cost per quarter. Express these estimates in the form Y=a+bX 2. Using direct labor-hours as the independent variable, prepare a scattergraph that plots direct labor-hours on the horizontal axis and utilities cost on the method, estimate the variable utilities cost per ton mined and the total fixed utilities cost per quarter. Express vertical axis. Using the least-squares regression these estimates in the form Y-a+bX