Submission Given below are the data for Hobul Pty Ltd relating to its sales and wages for the years 2017 to 2020 Sales Wages 2017 $ 732,100 $ 143,333 2018 $ 942,500 $ 157,770 2019 $ 1,187,900 $ 162,800 2020 $ 1,232,100 $ 168,333 Sales is considered to be a potential cost driver, and wages cost has mixed costs. a) b) Required Using the high-low method, create a cost function for wages costs. In your own words, explain why the high-low method might not be a good method for estimating the cost function. c) Perform regression analysis to create a cost function for wages costs. Can we know for certain that the cost function from part (c) provides a d) good estimate for next year's wages costs? Why? e) Discuss whether sales are an economically plausible driver for wages costs for Hobul Pty Ltd. Instructions to use Solver on Excel On your Excel spreadsheet with above data open, follow the steps below: File Options Add-Ins Manage: Excel Add-Ins Go From Add-Ins window tick on "Solver Add-Ins" and press OK Select Data from your Excel Menu on top of your sheet. Press Data Analysis which maybe located on far right hand side on the top of your Excel sheet Select "Regression" Press OK Select X and Y range and press OK This will open another tab and display results. You, then need to interpret the results