Answer to Question #86162 in Other for Faith

Question

Wilson an automotive technician has been operating a garage in Mombasa for the past two years. A year ago he converted part of his garage to a welding shop making and selling metal doors and windows. He had anticipated that he cost of welding shop would primarily be final but has realized that the welding cost increased with the increase in number of welding job assignment. The costs of welding job assignments are as follows.

Perched
No of welding job assignments
Total cost sh ‘000’
Sept 2008
280
700
Oct 2008
800
860
Nov 2008
1,240
110
Dec 2008
1,000
960
Jan 2009
600
720
Feb 2009
920
910
Mar 2009
860
880
Apr 2009
1,200
260

REQUIRED:
Formulate an equation to estimate the total cost of the welding shop and compute the cost of undertakings 1256 assignment using

i) High-low method
ii) Simple linear regression method.

Answer 1

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