Midgett Co. has accumulated data to use in preparing its annual profit plan for the upcoming year. The cost behavior pattern of the maintena regression be employed to derive an equation for maintenance hours and costs. Data regarding the maintenance hours and costs for the las Maintenance Machine Month Cost Hours Jan. %24 5,000 3,644 600 Feb. 440 Mar. 4,400 610 03:26 25 Apr. 3,337 480 May June 5,222 660 3,390 3,618 410 July 470 Aug. Sept. 5,384 630 5,114 590 Oct. 4,883 590 Nov. 3,925 430 Dec. 3,850 350 Sum $ 51,767 6,260 Average $4,313.92 521.67 Average cost per hour ($51,767/6,260) - $8.27 (rounded to the nearest cent) r=0.85977 2073920 The percent of the total varlance that can be explained by the regression equation is Multiple Choice