MANAGERIAL ACCOUNTING - Fifth Edition Working C6-72 Requirements 1. Using the high-low method, find the following cost estimates: a. Variable food and beverage cost per hotel room/suite b. Fixed food and beverage cost per hotel room/suite 2. Perform a regression analysis using Excel. Use # of hotel rooms & suites as the X and the Food and beverage costs as the Y in your regression analysis. a. What is the estimated variable food and beverage cost per hotel room/suite? b. What is the estimated fixed food and beverage cost per hotel room/suite? c. In your opinion, is the number of hotel rooms and suites a good predictor of Caesars' food and beverage costs? Why or why not? Compare the estimates of variable and fixed costs calculated using the high- low method to the estimates calculated using the regression method. Which method would most likely provide a better cost estimate? Explain