The Iowa 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 diagnostic test.

Transcribed Image Text:

Diagnostic Tests Completed Month Cost January 3,050 . $61,000 February 4,500 74,500 March 7,100 99,000 April 6,200 . 95,600 May 4,700 74,800 June 5,900. 89,000 July 6,000.. 91,000 August 6,100.. 90,000 September 5,300.. 87,000 October 4,900 76,200 November 4,800 . 78,100 December 5,050.. 80,700