4. Cost Behavior

The table below represents the maintenance cost of a factory at various levels of output. How would you classify this cost?

Fill in the blanks: Scatterplots are useful to identify ____________________, but more advanced methods are needed to ____________________.

Which of the following is most likely a variable cost for a business that makes teddy bears?

Which of the following statements is correct?

Bill’s Basketballs identifies the following as the following measurements of their rubber expenses at their highest-quantity and lowest-quantity production points. Calculate the variable cost per unit of rubber for Bill’s Basketballs using the high-low method.

The high-low method uses which of the following as its high point?

Which of the following R² values would indicate the best fitting equation? (Ignore results that are impossible)