The Phone Bill for a Company Consists of Both Fixed

question 48

Multiple Choice

The phone bill for a company consists of both fixed and variable costs.Refer to the four-month data below and apply the high-low method to answer the question. $$\begin{array} { | l | r | r | } \hline & \text { Minutes } & \text { Total Bill } \\\hline \text { Tanuary } & 460 & \$ 3000 \\\hline \text { February } & 200 & \$ 2675 \\\hline \text { March } & 170 & \$ 2660 \\\hline \text { April } & 310 & \$ 2825 \\\hline\end{array}$$ What is the variable cost per minute? (Round your answer to the nearest cent.)

• A)$1.17
• B)$6.52
• C)$0.85
• D)$0.11

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Definitions:

Criterion Validity

A measure of how well one variable or set of variables predicts an outcome based on some criterion measure.

Valid Measure

A tool or procedure that accurately reflects the concept that it is intended to measure.

Set

A collection of distinct objects, considered as an object in its own right in mathematics.

Abilities

Abilities are the natural or acquired skills and talents that individuals possess, enabling them to perform specific tasks effectively.