The managers of the production department have decided to use the production levels of 2011 and 2014 as examples of the highest and lowest years of operating levels. Data for those years are as follows:
Required:
What is the cost estimating equation for the department if gallons of chemicals are used as the cost driver?
Definitions:
Horizontal Axis
Represents the x-axis on a chart or graph, typically used to plot time, frequencies, or any continuous variable.
Vertical Axis
In graphing, the y-axis which typically represents the range of values for a dependent variable or measure of interest.
Line Graph
A graphical representation of data where individual data points connected by straight lines show trends over time or category.
Baseline
The initial set of measurements or observations taken in a study, used as a reference point for assessing change or effects of interventions.
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