Chapter 2 High-Low Method The Edelweiss Hotel in Vail, Colorado, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented out for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Occupancy- Days Electrical Costs Month January 2,604 $6,257 February 2,856 $6,550 March 3,534 $6.986 April 1,440 $4,022 May 540 $2,289 June 1,116 $3,591 July 3.162) $7.264 August 3,608 $7,811 September 1,260 $3,70 October 586 $1,712 Required: Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. Round off the fixed cost to the nearest whole dollar and the variable cost to the nearest whole cent