Jorgenson Corporation has provided the following data for the first five months of the year: Machine...

Jorgenson Corporation has provided the following data for the first five months of the year:

Machine hours Lubrication cost

January 280 $1,530

February 360 $1,645

March 445 $1,755

April 310 $1,590

May 362 $1, 705

Using the least-squares regression method of analysis, the estimated variable lubrication cost per machine hour is closest to?

Expert Solution

The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and calculation. For detailed answer refer to the supporting sheet.

ekkarill92 answered 1 year ago

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