In Class Exercise Month The Aust Corporation has gathered the following data on its copy machine costs for the first eight months of the year. High-Low Method 1. What is the variable cost per copy? II. What is the fixed cost per month? III. Represent the cost function with a cost equation of the form y=mx+b. Regression Analysis 1. What is the variable cost per copy? II. What is the fixed cost per month? III. Represent the cost function with a cost equation Using your cost equations provide your best estimate of the copy costs for September if 62,000 copies will be made. Why does your estimate differ from the $5,800 cost incurred in June? January February March April May June July August Number of Coples 46,000 42,000 58,000 64,000 57,000 62,000 68,000 71,000 Total Copy Cost $4,600 $4,400 $5,300 $6,300 $5,000 $5,800 $6,500 $7,300 35