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Month Rental Returns Car Wash Costs $ 11,900 $ 13,600 $ 12,700 $ 15,600 $ 17,100 $ 25,100 $ 23,100 $ 24,400 $ 23,700 $ 23,800 $ 11,600 $ 17,400 January February March 2,500 2,500 2,800 3,100 3,700 5, 200 5,600 5, 700 4,800 4,500 2,300 3,100 April Мay June July August September October November December 2. Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. (Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to 2 decimal places.) Fixed cost per month Variable cost per rental return

Month Rental Returns Car Wash Costs $ 11,900 $ 13,600 $ 12,700 $ 15,600 $ 17,100 $ 25,100 $ 23,100 $ 24,400 $ 23,700 $ 23,800 $ 11,600 $ 17,400 January February March 2,500 2,500 2,800 3,100 3,700 5, 200 5,600 5, 700 4,800 4,500 2,300 3,100 April Мay June July August September October November December 2. Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. (Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to 2 decimal places.) Fixed cost per month Variable cost per rental return

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Month Rental Returns Car Wash Costs $ 11,900 $ 13,600 $ 12,700 $ 15,600 $ 17,100 $ 25,100 $ 23,100 $ 24,400 $ 23,700 $ 23,800 $ 11,600 $ 17,400 January February 2,500 2,500 2,800 3,100 3,700 5, 200 5,600 5,700 4, 800 4,500 March April May June July August September October November 2,300 3,100 December 2. Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. (Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to 2 decimal places.) Fixed cost per month Variable cost per rental return
Transcribed Image Text:Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Month Rental Returns Car Wash Costs $ 11,900 $ 13,600 $ 12,700 $ 15,600 $ 17,100 $ 25,100 $ 23,100 $ 24,400 $ 23,700 $ 23,800 $ 11,600 $ 17,400 January February 2,500 2,500 2,800 3,100 3,700 5, 200 5,600 5,700 4, 800 4,500 March April May June July August September October November 2,300 3,100 December 2. Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. (Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to 2 decimal places.) Fixed cost per month Variable cost per rental return
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