Question: Hammer Company is accumulating data to use in preparing its annual profit plan for the coming year. The cost behavior pattern of the maintenance costs

Hammer 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: If Hammer Company uses the high-low method of analysis, the equation for the relationship between hours of activity and maintenance cost follows: (Do not round intermediate calculations. Round your final x variable to one decimal place.) y=4,100+603.0xy=603+7.0x None of these answer choices are correct. y=147+7.8x y=147+6.3x
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