The Joseph Company Used Regression Analysis to Predict the Annual

question 24

Multiple Choice

The Joseph Company used regression analysis to predict the annual cost of utilities.The results were as follows:
$\begin{array}{ll}&\text { Utilities Cost }\\&\text { Explained by Direct Labor Hours }\\\text { Constant } & 2,500 \\\text { Standard error of } Y \text { estimate } & 0.7 \\\text { R-Squared } & 0.85 \\\text { No. of observations } & 30 \\\text { Degrees of freedom } & 28 \\\text { X Coefficient } & 0.84 \\\text { Standard error of coefficient } & 0.92\end{array}$
The coefficient of determination is ________.

• A) 0.70
• B) 0.84
• C) 0.85
• D) 0.92

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