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Valle Crucis Corporation wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression
Valle Crucis Corporation wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression analysis showed the following information (note: only a portion of the regression analysis results is presented here): (click the icon to view the portion of the regression analysis.) What is the variable cost per machine hour (rounded to the nearest cent)? A. $2,945.95 B. $67.59 C. $0.99 D. $0.72 Data table SUMMARY OUTPUT \begin{tabular}{lr} \hline \multicolumn{1}{c}{ Regression Statistics } \\ \hline Multiple R & 0.991108748 \\ R Square & 0.982296551 \\ Adjusted R & \\ Square & 0.977870689 \\ Standard Error & 67.58593536 \\ Observations & 6 \\ \hline \end{tabular} ANOVA \begin{tabular}{lrrrrr} \hline & Coefficients & Standard Error & t Stat & P-value & Lower 95\% \\ \hline Intercept & 2945.94652 & 194.105844 & 15.17701095 & 0.000109885 & 2407.022299 \\ X Variable 1 & 0.718590832 & 0.04823467 & 14.89780767 & 0.00011823 & 0.584669919 \\ \hline \end{tabular}
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