Question: The Kentucky Tools Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Month Cost

The Kentucky Tools Machine Shop wants to develop a cost estimating

The Kentucky Tools 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 April July October $7,000 $7,500 $8,500 $7,250 750 850 1,000 800 What would be the best equation using the high-low method? Select one: A. Y = $2,500+ $6X B. Y = $1,500+ $8X C. Y = $2,000+ $4X D. Y $ 500 + $6X

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