Assume the local Pearle Vision has the following information on
the number of sales orders received and order-processing costs.
Month Sales Orders Order-Processing Costs
1 ........................................ 3,000 $82,700
2 ........................................ 1,500 50,375
3 ........................................ 4,400 120,700
4 ........................................ 2,800 81,900
5 ........................................ 2,300 69,775
6 ........................................ 1,200 43,100
7 ........................................ 2,000 62,500
Required
a. Use information from the high- and low-volume months to
develop a cost-estimating equation for
monthly order-processing costs.
b. Plot the data on a scatter diagram. Using...