Reference no: EM132953855

WhisperingCopy & Printing wants to predict copy machine repair expense at different levels of copying activity (number of copies made). The following data have been gathered:

                                             Copy Machine
Month                                    Repair Expense                     Copies Made

May                                      $36,770                          307,000

June                                         65,140                       574,000

July                                          115,420                     1,022,000

August                                        87,360                       776,000

September                                    44,520                      382,000

Problem 1: Determine the fixed and variable components of repair expense using the high-low method. Use copies made as the measure of activity. (Round variable component per copy to 2 decimal places, e.g. 0.15.)