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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 Blood Tests Performed
The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below:
Month | Blood Tests Performed | Blood Test Costs | ||||
January | 3,125 | $ | 14,000 | |||
February | 3,500 | $ | 14,500 | |||
March | 2,500 | $ | 11,500 | |||
April | 2,125 | $ | 10,000 | |||
May | 2,250 | $ | 11,000 | |||
June | 1,500 | $ | 8,500 | |||
July | 1,550 | $ | 8,400 | |||
August | 2,750 | $ | 12,000 | |||
September | 2,875 | $ | 13,000 | |||
Required:
1. Using the highlow method, estimate the cost formula for blood tests.
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