The Anthony Company Used Regression Analysis to Predict the Annual

Multiple Choice

The Anthony Company used regression analysis to predict the annual cost of utilities.The results were as follows:
$\begin{array}{ll}&\text { Utilities Cost }\\&\text { Explained by Direct Labor Hours }\\\text { Constant } & 4,500 \\\text { Standard error of } Y \text { estimate } & 595 \\\text { R-Squared } & 0.87 \\\text { No. of observations } & 30 \\\text { Degrees of freedom } & 28 \\\text { X Coefficient } & 5.02 \\\text { Standarderror of coefficient } & 0.92\end{array}$
The variable cost per direct labor hour is ________.

A) $0.87
B) $0.92
C) $5.02
D) $4,500