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:Intercept40,000Slope20The driver used was the number of machine hours. Using the cost formula for the equipment maintenance cost, what is the predicted cost of equipment maintenance for April, assuming that 8,000 machine hours will be logged in April?
a. $140,000
b. $200,000
c. $185,000
d. None of these choices are correct.
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