Store Revenues Employees Costs 101 $4,100 39 $4,214 102 2,227 29 2,894 103 5,738 47 5,181 104 3,982 38 3,998 105 2,914 33 3,676 106 4,023 38 3,319 107 6,894 54 5,029 108 1,779 26 2,374 109 5,416 44 4,688 110 3,228 35 2,959 111 3,886 37 4,179 112 4,690 41 3,200 113 3,552 35 2,556 114 4,817 42 4,655 115 2,124 28 2,986 Required: *Round to 1 decimal place on all answers 1) Use the high-low method to estimate the fixed and variable portions of store costs based on employees. (Ignore Revenues) Variable cost (per employee) Fixed cost Cost equation: 2) Use the results of your high-low anaylsis to estimate the cost for a store with 30 employees. Store cost 3) Run a simple regression of store cost on employees. Intercept Employees Cost equation: 4) Estimate the cost of a store with 30 employees using the results from your simple regression. Store cost 5) Run a multiple regression of store costs on revenues and employees. Intercept Revenues Employees Cost equation: 6) Estimate the cost of a store with $2.5 million and 30 employees using the resutls of your multiple regression. Store cost