Soleil Enterprise uses regression analysis on 24 months of data. The dependent variable is overhead costs and the independent variable is machine hours. The coefficient of determination is 0.83. Which of the following is true?

I. Machine hours and overhead costs are negatively correlated.

II. The coefficient of correlation is approximated 91%.

III. Machine hours account for about 61% of the variation in overhead costs.

IV. Factors other than machine hours account for about 17% of the variation in overhead costs.

V. The regression shows a weak correlation between machine hours and overhead costs.