How much of the variation in cost is explained by production? Multiple Choice O O 97.98% 95.60% 92.37% It is impossible to determine with the data given.
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![How much of the variation in cost
Multiple Choice
O
O
O
97.98%
95.60%
92.37%
explained by production?
It is impossible to determine with the data given.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F97bc0ea6-a641-45ad-8d06-2a494f72d98f%2F87f155e6-6596-49c4-a77a-273c3cfe028b%2Facyvdo_processed.jpeg&w=3840&q=75)
![Star, Incorporated, used Excel to run a least-squares regression analysis, which resulted in the following output:
Regression Statistics
Multiple R
R Square
Observations
0.9798
0.9560
30
Coefficients
Standard Error
60,902
0.9237
Intercept
Production (x)
How much of the variation in cost is explained by production?
174,302
11.06
T Stat
2.86
11.97
P-Value
0.021
0.000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F97bc0ea6-a641-45ad-8d06-2a494f72d98f%2F87f155e6-6596-49c4-a77a-273c3cfe028b%2Fqrr3tdeq_processed.jpeg&w=3840&q=75)
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