(SOLVED)- Plasma Pathology has incurred the following costs in its diagnostic


Question Description:

$20

Plasma Pathology has incurred the following costs in its diagnostic blood laboratory during the past 12 months:
Required:
1. Use regression analysis to estimate the variable cost per blood test and the fixed cost per month.
2. Develop a formula to express the cost behaviour exhibited by Plasma Pathology’s costs.
3. Predict the total cost in a month when 5500 tests are performed.

Answer

$20