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55) Valle Crucis Corporation wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a
55) Valle Crucis Corporation wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression analysis showed the following information (note: only a portion of the regression analysis results is presented here): SUMMARY OUTPUT Regression Statistics Multiple R 0991108748 R Square 0.982296551 Adjusted R Square 0.977870689 Standard Error 67.58593536 Observations 6 ANOVA df SS MS F Significance F Regression 1 1013811899 1013811899 221 .9446735 0.00011823 Residual 4 18271 .43463 4567.858659 Total 5 1032083333 Coefcients Standard Error 1' Stat P-value Lower 95% Intercept 2945-94652 194.105844 1517701095 0000109885 2407.022299 X Variable 1 0.718590832 0.04823467 14.89780767 0.00011823 0.584669919 What is the fixed cost (round to nearest cent)
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