Please submit the answer in an Excel Worksheet.

For example, if your panther id is 1234567, then your maintenance costs would be $103,567 in month 1; $107,567 is month 2; $113,567 in months 10, 12, and 13.

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(12 Points)

2. the Linear Regression method (12 Points)

For help outside of the textbook, 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

i). the values of a and b

ii) a scatter plot of the data points, and

iii) the R-square or the adjusted R-square

3. Which of the above two methods is more appropriate? Why ?

(5 Points)

I_l EXCEL ASSIGNNIENT Assume the following data (where the xxx is the last three digits of your panther id): Month Machine Hours 1111's.! Maintenance Costs $1 1 1,240 103 xxx 2 1,400 107 xxx 3 1,230 102 xxx 4 1,470 108 xxx 5 1,620 116 xxx 6 1,660 115 xxx 7 1,490 10? xxx 8 1,280 101 xxx 9 1,460 106 xxx 10 1,580 113 xxx 11 1,300 100 xxx 12 1,600 113 xxx 13 1,650 113 xxx 14 1,440 109 xxx 15 1,350 102 xxx 16 1,6?0 116 xxx 17 1,480 106 xxx 18 1,360 103 xxx 19 1,340 103 xxx 20 1,540 112 xxx 21 1,320 102 xxx 22 1,410 104 xxx 23 1,220 10129: