Jorgenson Corporation has provided the following data for the first five months of the year: Machine Lubrication Cost Hours January 240 $ 1,500 February 320 $ 1,600 March 400 $ 1,740 April 300 $ 1,580 May 340 $ 1,680 Using the least-squares regression method of analysis, the estimated variable lubrication cost per machine hour is closest to: Multiple Choice О $1.40 $1.56 $0.80

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Jorgenson Corporation has provided the following data for the first five months of the year:
Machine
Lubrication
Cost
Hours
January
240
$ 1,500
February
320
$ 1,600
March
400
$ 1,740
April
300
$ 1,580
May
340
$ 1,680
Using the least-squares regression method of analysis, the estimated variable lubrication cost per
machine hour is closest to:
Multiple Choice
О
$1.40
$1.56
$0.80
Transcribed Image Text:Jorgenson Corporation has provided the following data for the first five months of the year: Machine Lubrication Cost Hours January 240 $ 1,500 February 320 $ 1,600 March 400 $ 1,740 April 300 $ 1,580 May 340 $ 1,680 Using the least-squares regression method of analysis, the estimated variable lubrication cost per machine hour is closest to: Multiple Choice О $1.40 $1.56 $0.80
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