Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of it car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled:
Month Rental Returns Car Wash Costs
January 2,300 $10,300
February 2,500 $12,800
March 2,700 $11,100
April 2,900 $13,200
May 3,600 $15,500
June 4,900 $21,900
July 5,500 $21,500
August 5,300 $20,400
September 4,600 $22,100
October 3,800 $19,000
November 2,100 $10,000
December 2,600 $11,800
Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars.
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