HD The McGraw Company is accumulating data to be used 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 that linear regression be employed to derive an equation in the form ofy - a + bx for maintenance costs. Data regarding the maintenance hours and costs for last year and the results of the regression analysis are as follows: (CMA adapted) January February March April May June July August September October November December Sum Average Hours of Activity 610 440 560 400 690 450 440 720 670 640 500 480 6,600 550 Maintenance Costs $ 4.360 3, 160 3,760 2,980 4,510 3,120 3, 190 4.630 4,420 4,210 3,460 3,320 $ 45, 120 3, 760 A coefficient 732.23 4.5.6 @ 732.23 5.5050 A coefficient B coefficient Standard error of the a coefficient 148.605 Standard error of the coefficient 0.26517 Standard error of the estimate R2 T-value a T-value b 98.791 0.97732 4.927 20.761 What would be the cost equation if the high-low method is used? Multiple Choice Maintenance costs $6.66 Hours of Activity Maintenance Costs = $3.760+ ($550 Hours of Activity)