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Jamison Construction has Implemented a cost estimation system using regression analysis. The variable cost per hour of labor Is $18 and the fixed cost was determined to be $242,000. If Jamison projects It will be working 120,000 hours In 2019, what Is the projected total cost? [Totaleost s 2.402,000 | Explanation Total cost = (120,000 = $18) - $242.000 =$2160,000 - $242 000 =$2402.000 {Note that we are assuming that the point, 120,000 hours, Is within the relevant range for the independent variable)