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In the regression model Y = $100,000 + $10X, Y is total Repairs & Maintenance (R&M) cost and X is machine hours. The above equation
In the regression model Y = $100,000 + $10X, Y is total Repairs & Maintenance (R&M) cost and X is machine hours. The above equation implies that an a. increase of 1 machine hour is associated with an increase of $10,000 in total R&M cost. b. increase of 1 machine hour is associated with an increase of $10 in total R&M cost. c. increase of 10 machine hours is associated with an increase of $110,000 in total R&M cost.d. increase of 10 machine hours is associated with an increase of $10,000 in total R&M cost.
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