The Fairmont Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data:

$$

Month

Cost of Electricity $($Y$)$

Direct Labor$-$Hours $($X$)$

January

$$14,000$

$1,500$

April

$$15,000$

$1,700$

July

$$17,000$

$2,000$

October

$$14,500$

$1,600$

$$

What would be the best equation using the high$-$low method?

$$

The Fairmont Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data:

$$

Month

Cost of Electricity $($Y$)$

Direct Labor$-$Hours $($X$)$

January

$$14,000$

$1,500$

April

$$15,000$

$1,700$

July

$$17,000$

$2,000$

October

$$14,500$

$1,600$

$$

What would be the best equation using the high$-$low method?

$$

Y $=$ $$4,000+$ $$7$X

Y $=$ $$0+$ $$9$X

Y $=$ $$1,000+$ $$8$X

Y $=$ $$5,000+$ $$6$X