Question: The method of least squares was used to develop a cost equation to predict the cost of monthly equipment maintenance. The following computer output was

The method of least squares was used to develop a cost equation to predict the cost of monthly equipment maintenance. The following computer output was received:

Intercept32,000

Slope25

The driver used was the number of machine hours.

Refer to Figure 3-12. What was the cost formula for equipment maintenance?

a.total maintenance cost = $25machine hours

b.total maintenance cost = $32,000

c.total maintenance cost = $32,000 + ($25machine hours)

d.None of these are correct.

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