The Edelweiss Hotel in Vail, Colorado, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented out for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy- Days Electrical Costs January 2,830 $6,750 February 3,340 $7,410 March 3,650 $7,905 April 1,840 $5,520 May 750 $2,250 June 1,830 $5,490 July 3,890 $8,190 August 1,700 $5,100 September 4,060 $8,410 October 2,260 $6,780 November 1,350 $4,050 December 290 $870 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your “Variable cost” answer to 2 decimal places and “Fixed cost” answer to nearest whole dollar amount) What other factors other than occupancy-days are likely to affect the variation in electrical costs from month to month? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers.)
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