P-6 High-Low Method. Madrigal Theater Company is interested in estimating fixed and variables costs. The following data are available: Month Cost No. of Tickets Sold January 180000 18000 February 212000 21000 March 232000 25000 April 239000 27000 May 231000 27500 June 208000 21500 July 199000 20000 August 165000 15000 September 212000 22500 October 217000 24000 November 230000 28000 December 255000 30000 Required a. Use the high-low method to estimate fixed cost per month and variable costs per ticket sold [i.e., estimate a and b in the equation Cost = a+(b*# of tickets) using the high-low method] b. Madrigal Theater Company is considering an advertising campaign that is expected to increase annual sales by 12,000 tickets. Assume that the ticket selling price is $0. Ignoring the cost of the advertising campaign , what is the expected increase in profit associated with the advertising campaign? c. (optional) Repeat part a using regression analysis. In the light of the result, how would you answer Part b?