For Alice Company, labor-hours are 25,000 and wages $94,000 at the high point of

ID: 2420291 • Letter: F

Question

For Alice Company, labor-hours are 25,000 and wages $94,000 at the high point of the relevant range, and labor-hours are 15,000 and wages $70,000 at the low point of the relevant range. If Alice company wants to estimate wages when labor hours are 10,000, which of the following is true for this situation?

a. The model resulting from the high-low method would be adequate to determine a reliable estimate because 10,000 hours is within relevant range.

b. The model resulting from regression analysis would be adequate to determine a reliable estimate because 10,000 hours is within relevant range.

c. The model resulting from the high-low method would not be adequate to determine a reliable estimate because 10,000 hours is not within relevant range.

Explanation / Answer

c. The model resulting from the high-low method would not be adequate to determine a reliable estimate because 10,000 hours is not within relevant range.

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For Alice Company, labor-hours are 25,000 and wages $94,000 at the high point of

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