• BrightLights Events wants to understand its event setup costs related to the number of events managed.
• Data Provided:
  • Month 1: Total Costs: $50,000, Events Managed: 20
  • Month 12: Total Costs: $80,000, Events Managed: 30
• Tasks:
  • Apply the High-Low Method to calculate the variable cost per event and fixed costs.
  • Develop a cost equation.
  • Predict the total costs for managing 40 events.
  • Discuss the impact of offering premium event packages on costs and revenue.