The Joseph Company Used Regression Analysis to Predict the Annual

Multiple Choice

The Joseph Company used regression analysis to predict the annual cost of utilities.The results were as follows:
$\begin{array}{ll}&\text { Utilities Cost }\\&\text { Explained by Direct Labor Hours }\\\text { Constant } & 2,500 \\\text { Standard error of } Y \text { estimate } & 0.7 \\\text { R-Squared } & 0.85 \\\text { No. of observations } & 30 \\\text { Degrees of freedom } & 28 \\\text { X Coefficient } & 0.84 \\\text { Standard error of coefficient } & 0.92\end{array}$
The coefficient of determination is ________.

A) 0.70
B) 0.84
C) 0.85
D) 0.92