Question: James Co. had the following data for machine hours and maintenance costs in each of the four quarters of their prior fiscal year: QUARTER 1:

James Co. had the following data for machine hours and maintenance costs in each of the four quarters of their prior fiscal year:

QUARTER 1: 7 hours and $59

QUARTER 2: 10 hours and $74

QUARTER 3: 11 hours and $79

QUARTER 4: 12 hours and $84

What is the slope of the mixed cost equation for maintenance costs, using the linear (least squares) regression method?

What would be the cost estimated for the first quarter of next year, if the number of machine hours for that quarter are estimated to be 15?

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