ine months in Brendline EXERCISE 3-8 High-Low Method; Predicting Cost |L02] The number of blood tests performed and the related costs over the last nine months Hospital are given below: Blood Tests Performed Blood Test Costs Month 3,125 3.500 2,500 2,125 January... February. March..... April..... May .... June .... July...... August ..... September ... 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 during a month in which 2,300 blood tests are performed? d you expect to be incurred