=+1 Run a multiple regression to estimate the regression equation for set-up costs using both number of set-ups and number of set-up hours as independent variables. You should obtain the following result:

Regression 3: Set-up costs = a + (b1 × No. of set-ups) + (b2 × No. of set-up hours)

Variable Coefficient Standard error t-Value Constant –$2 807 $34 850 –0.08 Independent variable 1: no. of setups $58.62 $133.42 0.44 Independent variable 2: no. of set-up hours $52.31 $13.08 4.00