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The Method of Least Squares Was Used to Develop a Cost

Question 121

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The method of least squares was used to develop a cost equation to predict the cost of monthly equipment maintenance.The following computer output was received: ​
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The method of least squares was used to develop a cost equation to predict the cost of monthly equipment maintenance.The following computer output was received: ​ ​ What was the cost formula for equipment maintenance? A) total maintenance cost = $25 × machine hours B) total maintenance cost = $32,000 C) total maintenance cost = $32,000 + ($25 × machine hours) D) None of these are correct. What was the cost formula for equipment maintenance?


A) total maintenance cost = $25 × machine hours
B) total maintenance cost = $32,000
C) total maintenance cost = $32,000 + ($25 × machine hours)
D) None of these are correct.

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