Required: 3. Using the high-low method, calculate Garfields total fixed operating costs and variable operating cost per bottle. (Do not round your intermediate calculations. Round your variable cost per unit answer to 2 decimal places and fixed cost answer to the nearest whole number.)

4. Perform a least-squares regression analysis on Garfields data. (Use Microsoft Excel or a statistical package to find the coefficients using least-squares regression. Round your answers to 3 decimal places.)

5. Determine how well this regression analysis explains the data. (Round you regression statistics to three decimal places and your percentage answer to the nearest whole number.)

6. Using the regression output, create a linear cost equation (y = a + bx) for estimating Garfields operating costs. (Round your answers to 3 decimal places.)

Garfield Company manufactures a popular brand of dog repellant known as Dog Gone It, which it sells in gallon-size bottles with a spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are trying to keep neighborhood dogs out of their yards. Garfield's operating information for the first six months of the year follows: Month January February March April May June Number of Bottles Sold 1,010 1,420 1,850 2,360 3,490 3,600 Operating Cost $ 10,460 15,750 15,970 19,820 27,660 34,700 Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. (Do not round your intermediate calculations. Round your variable cost per unit answer to 2 decimal places and fixed cost answer to the nearest whole number.) Answer is complete and correct. $ 9.36 Variable Cost per Unit Fixed Cost $ 1,007