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The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Month January February March
The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Month January February March April May June July August September Blood Tests Performed 5,490 6,400 4,985 4,290 4,445 3,600 4,050 4,965 5,440 Blood Test Costs $ 67,658 $ 76,720 $ 61,443 $ 53,730 $ 56,000 $ 46,480 $ 50,912 $ 61,012 $ 66,892 Required: 1. Using the high-low method, estimate the cost formula for blood tests. (Round cost per unit answer to 2 decimal places.) Y = |X 2. Using the cost formula you derived above, what blood test costs would you expect to be incurred during a month in which 4.850 blood tests are performed? (Round your intermediate calculations answer to 2 decimal places.) Variable cost Fixed cost Total cost
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