Use the following to answer questions 6-10: Answer the next question(s) on the basis of the following data. All figures are in b
1 answer:
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Answer:
The variable rate is 0.4 $/machine-hour.
The equation fot the utility bill is .
If Matt anticipates using 1200 machine hours in January, his utility bill will be $ 2660.
Explanation:
We have two points in the year that will let us calculate the fixed utility cost and the variable utility cost.
We will end up with a equation of a line, like this
Where C (M) is the total utility cost, v is the variable utility cost per machine hour, M are the machines running hours and F is the fixed utility cost.
We have two unknowns and two equations, so it can be solved.
First we can substract the two bills (the highest and the lowest) and equal that to the equation of the line we described
The variable rate is 0.4 $/machine-hour.
Then we can replace v in one of the equations
The fixed utility cost are 2180 $/month.
The equation fot the utility bill is .
If Matt anticipates using 1200 machine hours in January, his utility bill will be $ 2660.