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. May Maintenance Machine Month Cost Hours Jan. $ 4,550 620 Feb. 3,350 460 Mar. 3,950 540 Apr. 3,170 440 4,700 640 June 3,310 450 July 3,380 460 Aug. 4,820 680 Sept. 4,610 630 Oct. 4,400 610 Nov. 3,650 490 Dec. 3,510 480 Sum $47, 400 6,500 $ 3,950 542 Average Average cost per hour $ 7.00 a (intercept) $ 129.77 b (coefficient) 7.0527 Standard error of the estimate 52.8466 R-squared 8.9935 t-value for b 39. 130 Help Save Subm Based on the data derived from the regression analysis, 420 maintenance hours in a month mean that maintenance costs should be budgeted to the mearest dollar at Multiple Choice 53.504 5504 O 0