Use the recession method instead of the high-low method. Put in excel format (two decimal places)

10-35 High-low method. Wayne Mueller, financial analyst at CELL Corporation, is examining the beha ior of quarterly utility costs for budgeting purposes. Mueller collects the following data on machine-hours worked and utility costs for the past 8 quarters: is examining the behav- Quarter Machine-HoursUtility Costs 120,000 75,000 110,000 150,000 90,000 140,000 130,000 100,000 $215,000 150,000 200,000 270,000 170,000 250,000 225,000 195,000 1. Estimate the cost function for the quarterly data using the high-low method. 2. Plot and comment on the estimated cost function. 3. Mueller anticipates that CELL will operate machines for 125,000 hours in quarter 9. Calculate the pre- dicted utility costs in quarter 9 using the cost function estimated in requirement 1