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:

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