Question

The Kansas City Veterinary Laboratory performs a variety of diagnostic tests on commercial and domestic animals. The lab has incurred the following costs over the past year.


Required:
1. Plot the data above in a scatter diagram. Assign cost to the vertical axis and the number of diagnostic tests to the horizontal axis. Visually fit a line to the plotted data.
2. Using the visually fit line, estimate the monthly fixed cost and the variable cost per diagnostictest.


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  • CreatedApril 22, 2014
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