Jayson Company Used Regression Analysis to Predict the Annual Cost

Multiple Choice

Jayson Company used regression analysis to predict the annual cost of indirect materials.The results were as follows:
$\begin{array}{ll}&\text { Indirect Materials Cost }\\&\text { Explained by Units Produced }\\\text { Constant } & 14,885 \\\text { Standard error of } Y \text { estimate } & 0.90 \\\text { R-Squared } & 0.60 \\\text { No. of observations } & 22 \\\text { Degrees of freedom } & 20 \\\text { X Coefficient } & 0.70 \\\text { Standard error of coefficient } & 2.1876\end{array}$
The coefficient of determination is ________.

A) 0.60
B) 0.70
C) 0.90
D) 1.10