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The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to
The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-site regardless of the number of campers enrolled. Following is the cost information for Camp Rainbow's operations last summer: Number of Campers Cost to Run Camp Week 1 90 $ 8,050 2 118 8,460 3 156 10,900 4 174 11,100 188 13,685 6 184 14,300 7 170 8 156 12,325 11,270 Required: 1. Perform a least-squares regression analysis on Camp Rainbow's data. 2. Using the regression output, create a cost equation (ya+bx) for estimating Camp Rainbow's operating costs. 3. Using the least-squares regression results, calculate the camp's expected operating cost if 170 children attend a session. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Perform a least-squares regression analysis on Camp Rainbow's data. Note: Use Microsoft Excel or a statistical package to find the coefficients using least-squares regression. Round your answers to 2 decimal places. Intercept X Variable 11 Coefficients Complete this question by entering your answers in the tabs below. Required 1 Required Required 3 Using the regression output, create a cost equation (y = a + bx) for estimating Camp Rainbow's operating costs. Note: Round your answers to 2 decimal places. Total cost= Number of campers Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the least-squares regression results, calculate the camp's expected operating cost if 170 children attend a session. Note: Round your intermediate calculations and final answer to 2 decimal places. Total cost 4. Using the high-low method, calculate Camp Rainbow's total fixed operating costs and variable operating cost per child. 5. Using the high-low method results, calculate the camp's expected operating cost if 170 children attend a session. Complete this question by entering your answers in the tabs below. Required Required 5 Using the high-low method, calculate Camp Rainbow's total fixed operating costs and variable operating cost per child. Note: Round your intermediate calculations and "Variable cost per unit" to 2 decimal places. Fixed cost Variable cost per child Complete this question by entering your answers in the tabs below. Required 4 Required 5 Using the high-low method results, calculate the camp's expected operating cost if 170 children attend a session. Note: Do not round your intermediate calculations. Expected cost
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