Week Beginning Photos Processed Total Cost
2/2 8,000 $16,000
2/9 4,500 $10,000
2/16 7,000 $12,500
2/23 10,000 $15,500
3/2 3,750 $7,000
3/9 6,000 $12,500
3/16 3,000 $8,500
3/23 5,000 $11,500
Part 1: Using the high-low method, complete the following:
Give the model that predicts cost - appropriately label the variables.
What would you expect total fixed costs to be with 5,600 pictures processed?
What would you expect total variable costs to be with 5,600 pictures processed?
What would you expect the total costs to be with 5,600 pictures processed?
Part 2: Using least square regression, complete the following:
Give the model that predicts cost - appropriately label the variables.
Using the model from #2, what would you expect total fixed costs to be with 5,600 pictures processed?
Using the model from #2, what would you expect total variable costs to be with 5,600 pictures processed?
Using the model from #2, what would you expect total costs to be with 5,600 pictures processed?