towns to John F. Kennedy International Airport in New York City. Each of its 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 in the year incurs an average operating cost of $300 per round-trip, and one that has made 2,000
round-trips in the year incurs an average operating cost of $250 per round-trip.
1. Using the high-low method, estimate the linear relationship y = a + bX, where y is the total annual operating
cost of a helicopter and X is the number of round-trips it makes to JFK airport during the year.
2. Give examples of costs that would be included in a and in b.
3. If Reisen Travel expects each helicopter to make, on average, 1,200 round-trips in the coming year,
what should its estimated operating budget for the helicopter fleet be?
Recently Asked Questions
- The repeated measures data are available in the data frame residue in the R package daewr. (a) Fit a multivariate model using the lm function and then use the
- Maria standing on the edge of a cliff throws a stone at 40 degree angle above the horizontal with the initial speed of 10.0 m/s. The instant before the stone
- You have been given the following specifications of a simple database for keeping track of exercise sessions and their instructors at a fitness centre (note