Using least-squared regressions, you estimated the fixed and variable costs for all universities together. However, your boss thinks that private and public firms might have different business models, which could lead to different cost behaviors. 1. Based on this conjecture, calculate the cost behavior based on whether the universities are public or private. a. Are the fixed costs and variable cost per unit the same for private and public universities? Include in your answer the equation for both the private and public universities. (2 points) The fixed and variable costs are different for private and public universities using the high-low method. (Y= a + bx)/ $184,121,995 = $184,118,024 + ($3,971)(11,335) b. How much variation is explained by your models? Which model has the highest explanatory power (R-squared)? (1 point) Using least-squared regressions, you estimated the fixed and variable costs for all universities together. However, your boss thinks that private and public firms might have different business models, which could lead to different cost behaviors. 1. Based on this conjecture, calculate the cost behavior based on whether the universities are public or private. a. Are the fixed costs and variable cost per unit the same for private and public universities? Include in your answer the equation for both the private and public universities. (2 points) The fixed and variable costs are different for private and public universities using the high-low method. (Y= a + bx)/ $184,121,995 = $184,118,024 + ($3,971)(11,335) b. How much variation is explained by your models? Which model has the highest explanatory power (R-squared)? (1 point)