Q2: Using the linear cost function you estimated from Q1, what is the expected maintenance costs for 20,000 flight hours? Expected maintenance cost for 20,000 flight hours = $82, 500 Q3: Using all the data points and run a regression model Part 1: Your regression output: An airline company expects a linear relationship between Flight Hours (X) and the total maintenance costs (Y). The following data has been collected: Month January February Flight Hours 21,000 II X: Independent Variable Y: Dependent Variable Maintenance Costs $84,000 22,000 March 14,000 April 17,000 May 10,000 June 19,000 July August September 20,000 October 14,000 November $90,000 $71,000 $75,000 $45,000 $78,000 $64,000 $68,000 $85,000 $60,000 $77,000 12,000 198,000 $51,000 $848,000 December Total 15,000 16,000 18,000 Q1: Using the high-low method, estimate the linear relationship Y = a + bx Note: for the high-low method, we only use two data points, one with the highest value of X and one with the lowest value of X Y 7,500+3.75x