Melody Leigh, owner of Broadway Floral, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Leigh wants to set the delivery fee based on the distance driven to deliver the flowers. Leigh wants to separate the foxed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Use the high-low method to determine Broadway Floralbost equation for van operating costs. Use your results to predict van operating costs at a volume of 16,500miles. Let's begin by determining the formula that is used to calculate the variable cost (slope). Variable cost (slope) Now determine the formula that is used to calculate the fixed cost component =Fixed cost Use the high-low method to determine Broadway Floral's operating cost equation. (Round the variable cost to the nearest cent and the fixed cost to the nearest whole dollar.) Use the operating cost equation you determined above to predict van operating costs at a volume of 16,500 miles. The operating costs at a volume of 16,500 miles is Melody Leigh, owner of Broadway Floral, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Leigh w fee based on the distance driven to deliver the flowers. Leigh wants to separate the fixed and variable portions of her van operating costs so that she has a better i distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Use the high-low method to determine Broadway Floralbost equation for van operating costs. Use your results to predict van operating costs at a volume of 16,500 Let's begin by determining the formula that is used to calculate the variable cost (slope). Variable cost (slope) Now determine the formula the - - X Data table Use the high-low method to c the nearest cent and the fixed cost to the nearest whi y= x+ Month Miles Driven Van Operating Costs Use the operating cost equat January 15,500 $5,390 niles. The operating costs at a volu February 17,400 $5,280 March 15,400 $4,960 April 16,300 $5,340 May 16,500 $5,450 June 15,200 $5,230 July 14,400 $4,680 Print Done