Armer Company is accumulating data to use in preparing its annual profit plan for the coming year. The cost behavior pattern of the maintenance costs must be determined. The accounting staff has suggested the use of linear regression to derive an equation for maintenance hours and costs. Data regarding the maintenance hours and costs for the last year and the results of the regression analysis follow: Month Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Sum Average Maintenance Machine Cost Hours $ 4,650 660 3,450 500 4,050 580 3,270 480 4,800 680 3,410 490 3,480 500 4,920 740 4,710 670 4,500 650 3,750 530 3,610 520 $48,600 7,000 $ 4,050 $ 583 a (intercept) b (coefficient) Standard error of the estimate R-squared t-value for b $ 89.64 6.7892 83.4170 0.9838 24.668 Based on the data derived from the regression analysis, 420 maintenance hours in a month mean that maintenance costs should be budgeted to the nearest dollar at Multiple Choice