Alice MeyerMeyer?,owner of Flower DirectFlower Direct?, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery? fee,

MeyerMeyer wants to set the delivery fee based on the distance driven to deliver the flowers. MeyerMeyer wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs

Melody Leigh, owner of Broadway Floral, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Leigh wants to set the delivery fee based on the distance driven to deliver the flowers. Leigh wants to separate the fixed and variable portions of her van operating costs so that sh has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Use the high-low method to determine Broadway Floral's cost equation for van operating costs. Use your results predict van operating costs at a volume of 16,500 miles. Let's begin by determining the formula that is used to calculate the variable cost (slope). Change in cost Change in volume = Variable cost (slope) Now determine the formula that is used to calculate the fixed cost component. Total operating cost Total variable cost = Fixed cost Use the high-low method to determine Broadway Floral's operating cost equation. (Round the variable cost to the nearest cent and the fixed cost to the nearest whole dollar.) y = X + - Data table Month Miles Driven Van Operating costs $5,390 15,500 17,400 $5,280 15,400 January.. ... February ..... March April......... May June.... July ..... $4,960 $5,340 16,300 16,500 15,200 14,400 $5,450 $5,230 $4,680 Print Done