Exercise $5$A$-2($Algo$)$ Least$-$Squares Regression $[$LO$5-11]$

$[$The following information applies to the questions displayed below.$]$

Bargain Rental Car wants to better understand the variable and fixed portions of its car washing costs. The company

operates its own car wash facility that cleans each rental car before releasing it to another customer. Management

believes the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following

data have been compiled:

Exercise $5$A$-2$ Part $2($Algo$)$

Using least$-$squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars.

Note: Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to $2$ decimal places. Exercise $5$A$-2($Algo$)$ Least$-$Squares Regression $[$LO$5-11]$

$[$The following information applies to the questions displayed below.$]$

Bargain Rental Car wants to better understand the variable and fixed portions of its car washing costs. The company

operates its own car wash facility that cleans each rental car before releasing it to another customer. Management

believes the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following

data have been compiled:

Exercise $5$A$-2$ Part $2($Algo$)$

Using least$-$squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars.

Note: Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to $2$ decimal places.

Answer is complete but not entirely correct. $\backslash$table$[[$Number$,$Month,Returns,Washes,XY$,$x$^2],[,$jan,$2500,-11600,6250000,29000000],[2,2$ feb,$2500,-13400,6250000,33500000],[3,$mar,$2800,-12400,7840000,34720000],[4,4$ april;,$3100,15200,9610000,47120000],[5,5$ may,$3700,16800,13690000,62160000],[6,6$ june,$5200,-24500,27040000,127400000],[7$ j$,$july,$5600,-22800,31360000,127680000],[8,$aug,$5600,-23700,31360000,132720000],[9,$sep,$4800,-23400,23040000,112320000],[10,$oct,$4200,-22900,17640000,96180000],[11,$nov,$2300,$D $11300,5290000,25990000],[12,$dec,$3000,16300,9000000,48900000],[,,45300,214300,188370000,877690000],[,,,,,],[,,,,,],[$Variable Co$,,3\mathrm{.}95,,,],[,,35365,,,],[$Fixed Cost,,$2947\mathrm{.}083,,,]]Required$ information

Exercise $5A-2(Algo)$ Least$-$Squares Regression $[LO5-11]$

Skip $to$ question

$[The$ following information applies $to$ the questions displayed below.$]$

Bargain Rental Car wants $to$ better understand the variable and fixed portions $of$ its car washing costs. The company operates its own car wash facility that cleans each rental car before releasing $itto$ another customer. Management believes 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

January $2,500$ $ $11,600$

February $2,500$ $ $13,400$

March $2,800$ $ $12,400$

April $3,100$ $ $15,200$

May $3,700$ $ $16,800$

June $5,200$ $ $24,500$

July $5,600$ $ $22,800$

August $5,600$ $ $23,700$

September $4,800$ $ $23,400$

October $4,200$ $ $22,900$

November $2,300$ $ $11,300$

December $3,000$ $ $16,300$

Exercise $5A-2$ Part $2(Algo)$

$2.$ Using least$-$squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred $to$ wash cars.

Note: Round Fixed cost $to$ the nearest whole dollar amount and the Variable cost per unit $to2$ decimal places.