rmer 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 ollow Maintenance Machine Month Cost Hours 4,300 3,100 3, 700 2, 920 4,450 3,060 3,130 4, 570 4,360 4,150 3,400 3,260 $44,400 Jan. 520 360 440 340 540 350 360 560 530 510 390 380 5,280 S 3,700440 Feb. Mar. Apr May June July Sept. oct. Nov. Dec. Sum verage Average cost per hour a (intercept) b (coefficient) Standard error of the estimate R-squared t-value for b $8.00 $493.1188 7.2884 34.4689 0.9972 60.105 . The percent of the total variance that can be explained by the regression equation is 34.938%. 109.462%. None of these answer choices are correct. 9972496. 80.967%