Armer Company is accumulating data to use in preparing its annual profit plan for the coming year. The cost behavior pattern of the maintenance costs must be determined. The accounting staff has suggested the use of linear regression to derive an equation for maintenance hours and costs. Data regarding the maintenance hours and costs for the last year and the results of the regression analysis follow: Maintenance Month Cost Jan. $ 5,150 Feb. 3,950 Mar. 4,550 Apr. 3,770 May 5,300 June 3,910 July 3,980 Aug. 5,420 Sept. 5,210 Oct. 5,000 Nov. 4,250 Dec. 4,110 Sum $54,600 Average $ 4,550 Average cost per hour a (intercept) b (coefficient) Standard error of the estimate R-squared t-value for b Machine Hours 860 700 780 680 880 690 700 1,000 870 850 730 720 9,460 $ 788 $ 6.00 $-125.35 5.9307 171.887 0.93135 11.6480 At 400 hours of activity, Armer management can be approximately two-thirds confident that the maintenance costs will be in the range of Multiple Choice $1,842.49 to $2,651.37. $1,843.40 to $2,650.43. $2,015.59 to $2,478.39. $2,075.04 to $2,418.82. None of these answer choices are correct. Armer Company is accumulating data to use in preparing its annual profit plan for the coming year. The cost behavior pattern of the maintenance costs must be determined. The accounting staff has suggested the use of linear regression to derive an equation for maintenance hours and costs. Data regarding the maintenance hours and costs for the last year and the results of the regression analysis follow: Maintenance Month Cost Jan. $ 5,150 Feb. 3,950 Mar. 4,550 Apr. 3,770 May 5,300 June 3,910 July 3,980 Aug. 5,420 Sept. 5,210 Oct. 5,000 Nov. 4,250 Dec. 4,110 Sum $54,600 Average $ 4,550 Average cost per hour a (intercept) b (coefficient) Standard error of the estimate R-squared t-value for b Machine Hours 860 700 780 680 880 690 700 1,000 870 850 730 720 9,460 $ 788 $ 6.00 $-125.35 5.9307 171.887 0.93135 11.6480 At 400 hours of activity, Armer management can be approximately two-thirds confident that the maintenance costs will be in the range of Multiple Choice $1,842.49 to $2,651.37. $1,843.40 to $2,650.43. $2,015.59 to $2,478.39. $2,075.04 to $2,418.82. None of these answer choices are correct