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Draw a scatter plot for the following data that show the demand for a product (in hundreds) and its price (in dollars) charged in nine different cities.
High-low Method
A method applied in cost accounting that calculates fixed and variable expenses by analyzing the maximum and minimum activity levels.
Variable Component
The portion of cost or expense that varies directly with changes in output or activity level.
Pre-tax Income
Pre-tax Income is the amount of income earned by a business before any taxes have been deducted.
Contribution Margin
The sum by which the income from sales surpasses variable expenses, showing the extent to which revenue aids in covering fixed costs and generating profit.
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