High-Low Method. The city of Rockville reported the following annual cost data for maintenance work performed on its fleet of trucks

1.Use the high-low method to estimate total fixed costs per year and the variable cost per mile. State your results in the cost equation form Y = f + vX.

2.What would the estimated costs be if the trucks drove 500,000 miles in year 7?

Scattergraph Method. Refer to the data in the previous exercise for the city of Rockville.

1.Use the scattergraph method to estimate total fixed costs per year and the variable cost per mile. State your results in the cost equation form Y = f + vX by filling in the dollar amounts for f and v.

2.What would the estimated costs be if the trucks drove 500,000 miles in year 7?

Regression Analysis. Regression analysis was run using the same data for the city of Rockville. 1.Use the regression output to develop the cost equation Y = f + vX by filling in the dollar amounts for f and v.

2.What would the city of Rockvilles estimated costs be if its trucks drove 500,000 miles in year 7?

Reporting Period (Year)Total CostsLevel of Activity (Miles Driven) Year1$750,000Year2Year3Year4Year5Year6225,000850,0001,100,0001,150,0001,250,0001,550,000240,000430,000454,000560,000710,000