Lorenzo Company estimated the behavior pattern of maintenance costs. Data regarding maintenance hours and costs for the previous year and the results of the regression analysis follow:

a. In the equation TC = F + VX, the best description of the letter V is as the
(1) Independent variable.
(2) Dependent variable.
(3) Variable cost coefficient.
(4) Coefficient for the intercept.
b. The best description of TC in the preceding equation is as the
(1) Independent variable.
(2) Constant coefficient.
(3) Dependent variable.
(4) Variable coefficient.
c. The best description of the letter X in the preceding regression equation is as the
(1) Dependent variable.
(2) Coefficient for the intercept.
(3) Variable cost coefficient.
(4) Independent variable.
d. Based on the data derived from the regression analysis, 180 maintenance hours in a month means that the maintenance costs would be estimated at (rounded to the nearest dollar)
(1) $3,309
(2) $3,600
(3) $3,461
(4) $3,797
(5) Some otheramount

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Month Hours of Avity Maintenance Costs $ 4,200 3,000 3,600 2,820 4,350 2,960 3,030 4,470 4,260 4,050 3,300 3,160 $43,200 3,600 anuary February March April ay June uly August September October November December 240 160 200 150 250 155 160 260 245 235 175 170 2,400 200 Sum for 12 months Average per month $684.65 $14.577X