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Please show work. Thank you Theres no time needed. Thats the entire question Group Problem 2 High-Low Method & Regression The Lake Shore Hotel's guest
Please show work. Thank you
Theres no time needed. Thats the entire question
Group Problem 2 High-Low Method & Regression The Lake Shore Hotel's guest days of occupancy and custodial supplies expense over the last seven months were: Guest days of Custodial Month Occupancy supplies March 4,000 $7,500 April 6,500 58,250 May 8,000 $10,500 June 10,500 $12,000 July 12,000 $13,500 August 9,000 $10,750 September 7,500 $9,750 Guest days is a measure of the overall activity at the hotel. For example, a guest who stays at the hotel for three days is counted as three guest days. Required: a. Using the high-low method, estimate the cost formula for custodial supplies expense. b. Using the cost formula derived in part a, what amount of custodial supplies expense would you expect to be incurred at an occupancy level of 11,000 guest days? c. Use this data and Excel to calculate the cost formula using regression analysis Step by Step Solution
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