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The Kentucky Tools Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Month Cost

The Kentucky Tools Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Month Cost of Electricity (Y) Direct Labor-Hours (X) January $7,000 750 April $7,500 850 July $8,500 1,000 October $7,250 800

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