Monthly Overhead Costs and Billable Hours Data Overhead Costs Billable Hours $345,000 2,000 $385,000 3,000 $405,000 4,000 $459,000 5,000 $520,000 6,000 $540,000 7,000 The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c. Click the icon to view the monthly data. a. Develop a simple linear regression model between billable hours and overhead costs. Overhead Costs = + () x Billable Hours (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers.)