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REQUIRED

Estimate the values of a and b, using,

1. the High-Low Method, and

2. the Linear Regression method.(for help try ?Linear Regression in Excel? on YouTube)

Note, to use the linear regression method, you MUST use the Microsoft Excel program.

Make sure to report

a. the values of a and b;

b. a scatter plot of the data points, and

c. the R-square or the adjusted R-square

3. Which of the above two methods is more appropriate? Why ? (3 sentences maximum)

EXCEL ASSIGNMENT Assume the following data Month 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Machine Hours (hrs.) 1,330 1,400 1,250 1,470 1,620 1,680 1,490 1,280 1,450 1,580 1,300 1,600 1,650 1,440 1,350 1,670 1,480 1,360 1,340 1,540 1,320 1,410 1,270 Maintenance Costs ($) 102,417 103,417 103,417 108,417 116,417 115,417 107,417 101,417 106,417 113,417 100,417 113,417 113,417 109,417 102,417 114,417 106,417 103,417 103,417 112,417 102,417 104,417 101,417 Assume that the following relationship holds: Maintenance Costs = a + (b * Machine Hours) REQUIRED Estimate the values of a and b, using, 1. the High-Low Method, and 2. the Linear Regression method.(for help try \"Linear Regression in Excel\" on YouTube) Note, to use the linear regression method, you MUST use the Microsoft Excel program. Make sure to report a. the values of a and b; b. a scatter plot of the data points, and c. the R-square or the adjusted R-square 3. Which of the above two methods is more appropriate? Why ? (3 sentences maximum)