The following is the simple regression results based on the data from Madrigal Corporation: Dependent variable – Machine maintenance costs Independent variable – Machine hours Computed values Intercept P 3,500 Coefficient on independent variable P 3.50 Coefficient of correlation 0.856 R2 0.733 What percentage of the variation in maintenance costs i

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter1: Functions
Section1.2: The Least Square Line
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The following is the simple regression results based on the data from Madrigal Corporation: Dependent variable – Machine maintenance costs Independent variable – Machine hours Computed values Intercept P 3,500 Coefficient on independent variable P 3.50 Coefficient of correlation 0.856 R2 0.733 What percentage of the variation in maintenance costs is explained by the independent variable? (use two decimal places, e.g. 82.20%, 55.31% or 0.82, 0.55, these will be counted as correct answers)
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