The Salinas Corporation has gathered the following data on its copy machine costs for the first eight months MonthN January February March April May June July August September Number of Copies 60,000 50,000 70,000 90,000 80,000 100,000 120,000 110,000 95,000 Total Copy Cost $7,400 6,500 7,800 9,200 8,500 9,200 10,000 9,800 7,900 Required Prepare a scattergraph of the cost information and then choose a line that you believe best represents the cost function. Represent your chosen line with a cost equation of the fom y mx+b. Show your calculations a. Using the high-low method, what is the variable cost per copy? Using the high-low method, what is the fixed cost per month? C. d. Using the high-low method, represent the cost function with a cost equation of the form y mx+ b Using regression analysis determine the variable costs, fixed costs and confidence in the accuracy of your line e. Do you feel that there any outliers in the above data and if so, what impact would excluding them have on the answer to e. above. Which if any points would you consider an outier. Justify your answer with numbers and facts it is estimated that the number of copies for October will be 85,000. What is the estimated costs based on using the information you computed in this problem. Which approach would you use and why. Show your computations. 9