Armer Company is accumulating data to use in preparing its annual profit plan for the coming year. The cost behavior pattern of linear regression to derive an equation for maintenance hours and costs. Data regarding the maintenance hours and costs f 2 025452 Aug- Maintenance Month Cost Machine Hours Jan. $ 4,250 500 Feb. 3,050 340 Mar. 3,650 420 Apr. 2,870 320 May 4,489 520 June 3,010 330 July 3,888 340 4,520 548 Sept. 4,310 Oct. 4,100 490 Nov. 3,350 370 Dec. 3,210 360 Sum $43,800 5,040 Average $ 3,650 420 Average cost per hour 9.00 a (intercept) $588.8861 b (coefficient) 7.2884 Standard error of the estimate 34.4689 R-squared 0.9972 t-value for b 60.185 510 The percent of the total variance that can be explained by the regression equation is Multiple Choice 99.724%