Task: The management of JC Auditorium believes that the number of events each month is a measure of activity for total clean-up cost. Shown below are event figures and total clean-up costs for the past four months:
Total
Number of Events Total Cleanup Cost
January 28 $30,900
February 34 $34,200
March 16 $20,700
April 22 $28,200
Question 1. Using the high-low method, estimate the variable cost per event and the total fixed cost per month. (Round off the variable cost per function to the nearest cent and the total fixed cost to the nearest dollar).
Question 2. Using the least-squares regression method, estimate the variable cost per event and the total fixed cost per month. (Round off the variable cost per function to the nearest cent and the total fixed cost to the nearest dollar).