Solution-Estimate the cost formula for blood tests

Estimate the cost formula for blood tests

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Reference no: EM132828536

Problem - The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below:

Month	Blood Tests Performed	Blood Test Costs
January	3,580	$51,406
February	4,100	$57,150
March	2,890	$42,030
April	2,192	$33,070
May	2,340	$35,552
June	1,500	$24,650
July	2,050	$31,011
August	2,940	$42,452
September	3,350	$48,341

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 incurred during a month in which 2,310 blood tests are performed?

Reference no: EM132828536

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Estimate the cost formula for blood tests

Reference no: EM132828536

Reference no: EM132828536

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