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Ramone Travel offers helicopter service from suburban towns to John F. Kennedy International Airport in New York City. Each of its twelve helicopters makes between

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Ramone Travel offers helicopter service from suburban towns to John F. Kennedy International Airport in New York City. Each of its twelve helicopters makes between 1,200 and 1,700 round-trips per year. The records indicate that a helicopter that has made 1,200 round-trips in the year incurs an average operating cost of $900 per round-trip, and one that has made 1,700 round-trips in the year incurs an average operating cost of $700 per round-trip. Read the requirements. Requirement 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. = + quirements sing 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. 2. Give examples of costs that would be included in a and in b. 3. If Ramone Travel expects each helicopter to make, on average, 1,500 round-trips in the coming year, what should be its estimated operating budget for the helicopter fleet

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