The Ereasthenes Hotel in Little Sky, Nevada has accumulated records of electrical costs of the hotel and the number of occupancy-days over the last year. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Required: 3.1 Using Excel, produce a scatterplot of electrical costs against occupancy-days. Do you observe a linear trend in the data? Describe this trend in 10 words or less. 3.2 Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. Provide the cost estimation equation for Erasthenes Hotel. 3.3 Conduct a regression analysis using these 12 data points, with electrical costs as the dependent variable and occupancy-days as the independent variable. Provide the regression output from your analysis (you may use Excel or another statistical program to conduct your analysis). Using this output, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. 3.4 Separately estimate electricity costs for a month with 1,539 occupancy-days using the cost equations estimated using the high-low and regression methods (There should be two estimates). Explain why these two estimates are different. 3.5 What is the relevant range of activity for the analyses you've conducted