Question
Waterway Copy & Printing wants to predict copy machine repair expense at different levels of copying activity (number of copies made). The following data have
Waterway Copy & Printing wants to predict copy machine repair expense at different levels of copying activity (number of copies made). The following data have been gathered:
Copy Machine | |||||||
---|---|---|---|---|---|---|---|
Month | Repair Expense | Copies Made | |||||
May | $33,260 | 303,000 | |||||
June | 61,660 | 597,000 | |||||
July | 103,960 | 1,010,000 | |||||
August | 78,660 | 767,000 | |||||
September | 40,160 | 377,000 |
Determine the fixed and variable components of repair expense using the high-low method. Use copies made as the measure of activity. (Round variable component per copy to 2 decimal places, e.g. 0.15.)
Variable Component | ????? | per copy | ||
---|---|---|---|---|
Fixed Component | ????? | per month |
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