Ch5 Exercises&Problems (50pt) 7 Part 2 of 2 5 points Required information. Exercise 5A-2 (Algo) Least Squares Regression [LOS-11) [The following information applies to the questions displayed below] Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Rental Book Month Car Wash Costs Returns January 2,500 $12,100 01 February 2,600 $ 13,700 March 2,000 $ 12,900 Print April May June July 3,200 $ 15,900 3,700 $ 17,300 5,300 $ 25,500 5,600 $ 23,300 References August 5,800 $24,900 September 4,800 $ 23,900 October 5,200 $24,400 November 2,300 $ 11,000 December 3,200 518,100 Exercise 5A-2 Part 2 (Algo) 2. Using least-squares regression, estimate the variable cost per rental return and try monthly fixed cost incurred to wash cars. (Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to 2 decimal places) Fixed cost per month Variable cost per rental return Me < Prev of 10 10 Next > Check my work