The Kojak Company Used Regression Analysis to Predict the Annual

question 14

Multiple Choice

The Kojak Company used regression analysis to predict the annual cost of utilities. The results were as follows: Utilities Cost
Explained by Direct Labor Hours
$\begin{array}{cc}\text { Constant } & \$ 2,500 \\\text { Standard error of } Y \text { estimate } & \$ 545.20 \\\text { R - squared } & 0.650 \\\text { No. of observations } & 30\\\text { Degrees of freedom } & 28 \\\text { X coefficient }(s) & 2.037 \\\text { Standard error of coefficient(s) } & 0.917\end{array}$ The total fixed cost is:

• A) $2.037
• B) $545.20
• C) $2,500
• D) None of these answers is correct.

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