Question: EXERCISE 3-8 High-Low Method; Predicting Cost |LO2] The number of blood tests performed and the related costs over the last nine months in Brentline Hospital

EXERCISE 3-8 High-Low Method; Predicting Cost |LO2] The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Blood Tests Performed Month Blood Test Costs January February March.... April May June July August September 3.125 3.500 2,500 2,125 2.250 1,500 1,550 2.750 2,875 $14.000 $14.500 $11,500 $10,000 $11,000 $ 8,500 $ 8,400 $12,000 $13,000 Required: 1. Using the high-low method, estimate the cost formula for blood tests. 2. Using the cost formula you derived above, what blood test costs would you expect to be incurre during a month in which 2,300 blood tests are performed

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