Scatter Diagrams and High-Low Cost EstimationAssume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs.Month Sales Orders Order-Processing Costs3,000$ 165,4001,500100,7504,400241,4002,800163,8002,300139,5501,20086,2002,000125,0001234567Required(a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs.$ 28,000+ $48.5X(b.) Plot the data on a scatter diagram. Using the information from representative high-and low-volume months, develop a cost estimating equation for monthly order-processing costs. If needed, an Excelworksheet is provided in the following link in order to create the scatter diagram: Scatter_Diagram$ 15,000 X+ $53.14 X X

Here, for each month, I have been given the data for sales orders and order processing costs, I…

Answered: Required (a.) Use information from the…

MARKETING 2018

19th Edition

ISBN:9780357033753

Author:Pride

Publisher:Pride

Chapter1: An Overview Of Strategic Marketing

Section1.2: Dollar Shave Club: The Company For Men

Problem 1C

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