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1,350 and 2,100 round-trips per year. The records indicate that a helicopler that has made 1,350 round-trips in the year incurs an average operating cost

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1,350 and 2,100 round-trips per year. The records indicate that a helicopler that has made 1,350 round-trips in the year incurs an average operating cost of $450 per round-trip, and one that has made 2,100 round-trips in the year incurs an average operating cost of $350 per round-trip. Read the requirements. Requirement 1. Using the high-low method, estimate the linear relationship y=a+bX, where y is the total annual operating cost of a helicopter and X is the number of round-trips it makes to JFK airport during the year. Requirements 1. Using the high-low method, estimate the linear relationship y=a+bX, where y is the total annual operating cost of a helicopler and X is the number of round-trips it makes to JFK airport during the year. 2. Give examples of costs that would be included in a and in b. 3. If Roy Travel expects each helicopter to make, on average, 1,700 round-trips in the coming year, what should be its estimated operating budget for the helicopter fleet

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