Noonan Company Used Regression Analysis to Predict the Annual Cost

Multiple Choice

Noonan Company used regression analysis to predict the annual cost of indirect materials.The results were as follows:
$\begin{array}{ll}&\text { Indirect Materials Cost }\\&\text { Explained by Units Produced }\\\text { Constant } & 4,200 \\\text { Standard error of } Y \text { estimate } & 2,300 \\\text { R-Squared } & 0.84 \\\text { No. of observations } & 22 \\\text { Degrees of freedom } & 20 \\\text { X Coefficient } & 2.30 \\\text { Standarderror of coefficient } & 2.70\end{array}$
The variable cost per unit of product is ________.

A) $0.84
B) $1.00
C) $2.30
D) $2.70