Task: CoursHeroTranscribedText: Problem 01 Kim Wilson, controller for Max Enterprises, has decided to estimate the...
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CoursHeroTranscribedText: Problem 01 Kim Wilson, controller for Max Enterprises, has decided to estimate the xed and variable com- ponents associated with the company's shipping activity. She has collected the following data for the past six months: Packages Shipped Total Shipping Costs 10 $ 800 20 l. ")0 IS 900 12 900 IS 1,050 25 1,250 Required: 1. Estimate the xed and variable components for the shipping costs using the highlow method. Using the cost formula, predict the total cost of shipping if [4 packages are shipped. 2. Estimate the xed and variable components using the method of last squares. Using the cost formula, predict the total cost of shipping if 14 packages are shipped
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