Mary was attempting to estimate a model for her small business's overhead costs. She is 99.9%...

 

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Mary was attempting to estimate a model for her small business's overhead costs. She is 99.9% sure that overhead costs are driven primarily by production, but she also knows that this cost isn't entirely variable. So she grabbed the last 8 months of production and overhead cost data, listed it out, and plotted it as follows. Month # of Units Produced 1 2 3 4 6 7 8 230 190 260 320 340 300 250 270 Overhead Cost $3,310 2,480 3,100 3,930 3,680 3,760 3,090 3,920 Help Mary estimate her company's overhead costs using the high-low method. Write your final model in Y = m(X) + b format. Y = $ X+ $ 1 Mary was attempting to estimate a model for her small business's overhead costs. She is 99.9% sure that overhead costs are driven primarily by production, but she also knows that this cost isn't entirely variable. So she grabbed the last 8 months of production and overhead cost data, listed it out, and plotted it as follows. Month # of Units Produced 1 2 3 4 6 7 8 230 190 260 320 340 300 250 270 Overhead Cost $3,310 2,480 3,100 3,930 3,680 3,760 3,090 3,920 Help Mary estimate her company's overhead costs using the high-low method. Write your final model in Y = m(X) + b format. Y = $ X+ $ 1

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To estimate Marys companys overhead costs using the highlow method we need to ide... View the full answer