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Rabuet Travel offers helicopter service from suburban towns to John F. Kennedy International Airport in New York City. Each of its eleven helicopters makes between
Rabuet Travel offers helicopter service from suburban towns to John F. Kennedy International Airport in New York City. Each of its eleven helicopters makes between 1,000 and 2,500 round-trips per year. The records indicate that a helicopter that has made 1,000 round-trips in the year incurs an average operating cost of $700 per round-trip, and one that has made 2,500 round-trips in the year incurs an average operating cost of $550 per round-trip. 1. Using the high-low method, estimate the linear relationship y=a+bX, where y is the total annual operating cost of a helicopter and X is the number of round-trips it makes to JFK airport during the year
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