The Plastic Lumber Corporation wants to predict its manufacturing overhead costs by using machine hours in a simple linear regression. All of the following statements are true except:
a. Machine hours would be the independent variable.
b. Manufacturing overhead costs would be the dependent variable.
c. Manufacturing overhead costs could be referred to as the explanatory variable.
d. The regression model is likely to be a good predictor for manufacturing overhead costs if the R-squared value is close to 1.