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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

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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: Rental Month Returns Car Wash Costs January 2,500 $ 11, 900 February 2,500 13, 600 March 2, 800 $ 12, 700 April 3, 100 15, 600 May 3, 700 17, 100 June 5, 200 25, 100 July 5, 600 23, 100 August 5 , 700 24, 400 September 4, 800 23, 700 October 4,500 $ 23, 800 November 2, 300 11, 600 December 3 , 100 $ 17, 400 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

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