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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: MonthBlood Tests PerformedBlood Test
The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below:
MonthBlood Tests PerformedBlood Test CostsJanuary$February$March$April$May$June$July$August$September$
Required:
Using the highlow method, estimate the cost formula for blood tests.
Note: Round cost per unit answer to decimal places.
Using the cost formula you derived above, what blood test costs would you expect to be incurred during a month in which blood tests are performed?
Note: Round your intermediate calculations answer to decimal places.
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