Required information Exercise 5A-2 (Algo) Least-Squares Regression [LO5-11] [The following information applies to the questions displayed below.] Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Month Rental Returns Car Wash Costs January 2,300 $ 10,400 February 2,500 $12,000 March 2,700 $ 11,200 April 2,900 $ 13,400 May 3,600 $ 15,600 June 4,900 $22,100 July 5,500 $ 21,600 August 5,300 $ 20,700 September 4,700 $ 22,200 October 3,800 $ 19,300 November 2,100 5 10,100 December 2,600 $12,100 Exercise 5A-2 Part 1 (Algo) Required information Instructions: 1. On the graph below, use the point tool (January) to plot rental returns on the horizontal axis and car wash costs on the vertical axis. 2. Repeat the same process for the plotter tools (February to December). 3. To enter exact coordinates, click on the point and enter the values of x and y. 4. To remove a point from the graph, click on the point and select delete option. Car Wash Costs (in dollars) 30,000 ces 25,000 20,000 15,000 10,000 5,000 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Tools January February March April May June Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Month Rental Returns Car Wash Costs. January 2,300 $ 10,400 February 2,500 $ 12,800 March 2,700 $ 11,200 April 2,900 $ 13,400 May 3,600 $ 15,600 June 4,900. $ 22,100 July 5,500 $ 21,600 August 5,300 $ 20,700 September 4,700 $ 22,200 October 3,800 $ 19,300 November 2,100 $ 10,100 December 2,600 $ 12,100 Exercise 5A-2 Part 2 (Algo) 2. Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. (Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to 2 decimal places.) Fixed cost per month Variable cost per rental return