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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
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): SUMMARY OUTPUT Regression Statistics Multiple R 0.991108748 R Square 0.082296551 Adjusted R Square 0.977870689 Standard Error 67.58503536 Observations ANOVA Regression SS MS F Significance F 1013811.899 1013811.800 221.9440735 0.00011823 Residual Total 5 18271.43463 4567.858650 1032083.333 Coefficients Standard Error Intercept 2945.94652 X Variable 1 0718590832 Stat P-value 194.105644 15.17701005 0.000109885 0.04823467 14.89780767 0.00011823 Lower 95% 2407.022299 0.584669919 What is the fixed cost (round to nearest cent)? $2,945.95 $0.99 $0.72 $67.59
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