Corrine Corporation, which uses least$-$squares regression analysis, has derived the following regression equation for estimates of manufacturing overhead: $Y=513,000+6\mathrm{.}55x.$ Which of the following statements is true if the primary cost driver is machine hours?

Multiple Choice

The company anticipates $$513,000$ of fixed manufacturing overhead and $"x"$ represents the number of machine hours.

Total manufacturing overhead is represented by the variable $"$X$."$

$"$X$"$ represents the number of machine hours.

The company anticipates $$513,000$ of fixed manufacturing overhead.

$"$X$"$ is commonly known as the dependent variable.