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The Lakeshore Hotel's occupancy-days and custodial supplies expense over the last seven months were as follows: Custodial Supplies Expense $ 17,350 Occupancy- Month March
The Lakeshore Hotel's occupancy-days and custodial supplies expense over the last seven months were as follows: Custodial Supplies Expense $ 17,350 Occupancy- Month March Days 11,100 April 9,300 15,500 May 12,200 18,200 June 20,500 22,050 July August 29,700 26,650 20,600 20,750 September 16,400 19,350 Occupancy-days are a measure of the overall activity at the hotel. For example, when a guest stays at the hotel for three days, it is counted as three occupancy-days. Required: 1. Using least-squares regression (you may use a spreadsheet to compute the fixed and variable costs), estimate a cost formula for custodial supplies expense. (Round the "Fixed cost" to the nearest dollar amount and "Variable cost" to 2 decimal places.) Y =
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