Gator Beach Marts, a chain of convenience grocery stores in the Fort Lauderdale area, has...
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Accounting
Gator Beach Marts, a chain of convenience grocery stores in the Fort Lauderdale area, has store hours that fluctuate from month to month as the tourist trade in the community varies. The utility costs for one of the companys stores are listed below for the past six months.
Month Total Hours of Operation Total Utility Cost
January $
February
March
April
May
June a Use the highlow method to estimate the cost behavior for the stores utility costs. Express the cost behavior in formula form Y a bX
b What is the variable utility cost per hour of operation?
a Construct an Excel spreadsheet and use the Excel commands to perform a leastsquares regression. Estimate the cost behavior for the store's utility cost. Express the cost behavior in formula form.
b What is the variable utility cost per hour of operation?
During July, the store will be open hours. Predict the stores total utility cost for July using each of the costestimation methods employed in requirements and
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