Answer the following questions using the high-low method.

What is the estimated variable cost per case? *

What is the estimated total maintenance cost if 20 cases are produced?

What is the estimated total fixed cost per month?

Answer the following questions using the method of least squares.

What is the estimated total fixed cost per month?

Based on the coefficient of determination, do you think the maintenance cost is influenced by changes in the production volume?

Compute the coefficient of determination (R squared). For this question only, ROUND YOUR ANSWER TO 4 DECIMAL PLACES.

What is the estimated total maintenance cost if 20 cases are produced?

What is the estimated variable cost per unit?

Milktopia, Inc. produces and sells milk flavored bubble gum. Over the last five months Milktopia had the following maintenance costs and production volume. Month Cost (Y) Volume (in cases) March 6,000 12 April 6,659 14 May 8,370 18 June 8,800 19 July 8,050 17