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Kerri Rafferty owner of Flower Hour, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a fiat delivery fee, Rafferty wants to set the delivery fee based on the distance driven to deliver the flowers. Rafferty wants to separate the fixed 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 Flower Hour's cost equation for van operating costs. Use your results to predict van operating costs at a volume of 17.000 miles. Let's begin by determining the formula that is used to calculate the variable cost (slope). Change in cost Change in volume - Variable cost (slope) - X Data table Now determine the formula that is used to calculate the fixed cost component. Total operating cost Total variable cost = Fixed cost Use the high-low method to determine Flower Hour's operating cost equation. (Round the variable cost to the nearest cent and the fixed cost to the nearest whole dollar.) Month Miles Driven January ...... 15,400 February .... 17,900 March ... 15,200 Van Operating costs $5,200 $5,480 $4,980 y= 15,800 April May S5,350 S5,620 16,900 16,000 June $5,300 $4,800 July 14,500 ( Print Done Help me solve this Video Get more help Clear all Check