Ask Experts Questions for FREE Help !
Ask
    evanss1976's Avatar
    evanss1976 Posts: 1, Reputation: 1
    New Member
     
    #1

    May 10, 2008, 12:29 PM
    Estimating a cost function, high-low method?
    Reisen Travel offers helicopter service from suburban towns to john F. Kennedy Airport. Each of it's 10 helicopters makes between 1,000 and 2,000 round trips per year. The records indicate that a helicopter that has made 1,000 round trips has an average operating cost of $300, and one that has made 2,000 round trips has an average operating cost of $250.
    1. Estimate the linear relationship y = a+bx, where y is the total annual operating cost of the helicopter and x is the number of round trips.
    2. give examples of costs that would be included in a and b
    3. if Reisen Travel expects each helicopter to make an aver 1,200 round trips in the coming year, what should its operating budget for the helicopter fleet be?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
     
    #2

    May 10, 2008, 01:02 PM
    Please see our homework guidelines in red at the top of the page:

    https://www.askmehelpdesk.com/financ...-b-u-font.html

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

How to write a linear cost function [ 9 Answers ]

If the fixed cost is $4000, and 50 items costs $7000 to produce, what is the linear cost function?

Home improvement cost estimating [ 2 Answers ]

I am looking for home improvement cost estimating help in the Tampa FL area. Handyman projects to be more specific. Thanks Ray


View more questions Search