Review Problem 2: High-Low Methow The administrator of Azalea Hills Hospital would like a cost formula linking the administrative costs involved in admitting patients to the number of patients admitted during a month. The Admitting Depart- ment's costs and the number of patients admitted during the immediately preceding eight months are given in the following table: Month Number of Patients Admitted Admitting Department Costs May 1,800 $14,700 June 1,900 $15,200 July 1,700 $13,700 August 1,600 $14,000 September 1,500 $14,300 October 1,300 $13,100 November 1,100 $12,800 December 1,500 $14,600 Required: 1. Use the high-low method to estimate the fixed and variable components of admitting costs. 2. Express the fixed and variable components of admitting costs as a cost formula in the form Y = a + bx.