Armer Company is accumulating data to use in preparing its annual profit plan for the coming year. The cost behavior

Question:

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: Maintenance Machine Month Cost Hours $4,350 3,150 3,750 2,970 4,500 3,110 3,180 4,620 4,410 4,200 3,450 3,310$45,000 $3,750 540 380 460 360 560 370 380 580 550 530 410 400 5,520 460$ 8.00 $397.35 7.2884 34.469 0.99724 Jan. Feb. Mar. Apr. May June July Aug Sept. Oct. Nov. Dec. Sum Average Average cost per hour a (intercept) b (coefficient) Standard error of the estimate R-squared Maintenance Machine Cost Month Hours$ 4,350 3,150 3,750 2,970 4,500 3,110 3,180 4,620 4,410 4,200 3,450 3,310 $45,000$ 3,750 540 380 460 360 560 370 380 580 550 530 410 400 5,520 460 $8.00$ 397.35 7.2884 34.469 0.99724 60.1050 Jan. Feb. Mar. Apr. May June July Aug Sept Oct. Nov. Dec Sum Average Average cost per hour a (intercept) b (coefficient) Standard error of the estimate R-squared t-value for b At 400 hours of activity, Armer management can be approximately two-thirds confident that the maintenance costs will be in the range of
Multiple Choice $3,256.05 to$3,369.37 one of None of these answer choices are correct. $3,278.24 to$3,34718 $3,25703 to$3,368.36. $3,291.74 to$3,333.80.

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