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Corrine Corporation, which uses least-squares regression analysis, has derived the following regression equation for estimates...

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Accounting

Corrine Corporation, which uses least-squares regression analysis, has derived the following regression equation for estimates of manufacturing overhead: Y=513,000+6.55x. Which of the following statements is true if the primary cost driver is machine hours?
Multiple Choice
The company anticipates $513,000 of fixed manufacturing overhead and "x" represents the number of machine hours.
Total manufacturing overhead is represented by the variable "X."
"X" represents the number of machine hours.
The company anticipates $513,000 of fixed manufacturing overhead.
"X" is commonly known as the dependent variable.
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