Randle Company Ran a Regression Analysis Comparing Total Units of Production

question 5

Multiple Choice

Randle Company ran a regression analysis comparing total units of production and maintenance costs for the past four months.The regression analysis shows an R-squared of 0.76.Which of the following statements best describes this measure?

• A)76 percent of the total maintenance costs are fixed and 24 percent are variable.
• B)76 percent of the variation in maintenance costs is not explained by the increase or decrease in production.
• C)76 percent of the variation in maintenance costs is explained by the increase or decrease in production.
• D)76 percent of the company's total costs are maintenance costs.
• E)None of the answer choices is correct.

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