The total cost is $2,945.95.
Regression is a statistical technique utilized in finance, making an investment, and other disciplines that try to decide the electricity and individual of the relationship among one based variable (typically denoted by means of Y) and a chain of different variables (known as independent variables).
In statistical modeling, regression analysis is a hard and fast statistical tactic for estimating the relationships between a structured variable and one or more unbiased variables.
Formulating a regression evaluation enables you are expecting the outcomes of the unbiased variable on the dependent one. For example, we can say that age and top can be described using a linear regression model. considering the fact that someone's top increases as age increases, they've got linear dating.
As per the given regression output sheet,
'Y' is the monthly operating cost.
Variable factor i.e., 'X' is the potential cost driver, machine hours.
Therefore, the regression equation that can be derived from the given output sheet is as
follows:
Y = $0.72 X + $2945.95
Where, X variable 1 = Variable cost per activity unit
= $0.72
Intercept = Fixed cost
= $2,945.95
Therefore, the total cost is $2,945.95.
Learn more about regression here brainly.com/question/25987747
#SPJ4