Question One: (6 Points) A hospital's records show that the cost of carrying out health checks...
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Question One: (6 Points) A hospital's records show that the cost of carrying out health checks in the last five accounting periods have been as follows: Period Number of patients seen Total cost 1 650 $17,125 2 940 17,800 1260 18,650 990 17,980 1150 18,360 Required: Using high-low method, 1. Estimate the cost function. 2. Estimate the total cost for period 6 if the number of patients seen is 1500. 3. What is the difference between using the High - low method and Least Square (Regression) method. Question One: (6 Points) A hospital's records show that the cost of carrying out health checks in the last five accounting periods have been as follows: Period Number of patients seen Total cost 1 650 $17,125 2 940 17,800 1260 18,650 990 17,980 1150 18,360 Required: Using high-low method, 1. Estimate the cost function. 2. Estimate the total cost for period 6 if the number of patients seen is 1500. 3. What is the difference between using the High - low method and Least Square (Regression) method.
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1 High low method is a way of separating fixed and variable cost It ta ethod is a ... View the full answer
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