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Camp Rainbow offers overnight summer camp programs for children ages 1014 every summer during June and July. Each camp session is one week and can
Camp Rainbow offers overnight summer camp programs for children ages 1014 every summer during June and July. Each camp session is one week and can accommodate up to 200 children. The camp is not coed, so boys attend during the odd-numbered weeks and girls attend during the even-numbered weeks. While at the camp, participants make crafts, participate in various sports, help care for the camp's resident animals, have cookouts and hayrides, and help assemble toys for local underprivileged children. The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-site regardless of the number of campers enrolled. Following is the cost information for Camp Rainbow's operations last summer: Week Number of Campers 110 112 148 102 160 154 156 162 Cost to Run Camp $8,850 9,380 11,820 8,190 12,150 11,540 11,420 11,250 5 6 7 8 E5-14 (Algo) Estimating Cost Behavior Using Least-Squares Regression (LO 5-4) Required: 1. Perform a least-squares regression analysis on Camp Rainbow's data. 2. Using the regression output, create a cost equation (y= a + bx) for estimating Camp Rainbow's operating costs. 3. Using the least-squares regression results, calculate the camp's expected operating cost if 156 children attend a session
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