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Homework answers / question archive / 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

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

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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. (Round cost per unit answer to 2 decimal places.) 
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? (Round your intermediate calculations answer to 2 decimal places.) 

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