The Method of Least Squares Was Used to Develop a Cost

question 121

Multiple Choice

The method of least squares was used to develop a cost equation to predict the cost of monthly equipment maintenance.The following computer output was received: ​
​
What was the cost formula for equipment maintenance?

• A) total maintenance cost = $25 × machine hours
• B) total maintenance cost = $32,000
• C) total maintenance cost = $32,000 + ($25 × machine hours)
• D) None of these are correct.

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