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Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been coll

Intercept Machine Hours Coefficients Standard Error t Stat P-value Lower 95% Upper 95% 4,476.65 1,979.98 2.26 0.05 64.99 8,88

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Answer #1

Answer : Electricity costs = $5.76*Machine Hours

From the Regression Output Variable cost Per Unit is the X- Variable ( MAchine Hours) is $5.76 Per Machine Hour

So Variable cost = $5.76 *Machine Hours

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