Sox Company has the following twelve months of cost data.
| Months |
Units |
Costs |
| Jan |
100 |
$30,700 |
| Feb |
120 |
$35,900 |
| Mar |
140 |
$41,200 |
| Apr |
140 |
$39,200 |
| May |
180 |
$49,100 |
| Jun |
160 |
$44,700 |
| Jul |
175 |
$48,300 |
| Aug |
150 |
$42,000 |
| Sep |
125 |
$37,300 |
| Oct |
130 |
$37,100 |
| Nov |
175 |
$49,700 |
| Dec |
160 |
$44,800 |
Answer the following:
1. What is the estimate for variable costs, fixed costs and the cost formula using the High Low Method?
2. What is the estimate for variable costs, fixed costs, the cost formula, r, and r2 using Regression?