The College of Business at Northeast College is accumulating data as a first step in the preparation of next year's budget development. One cost that is being looked at closely is administrative costs as a function of student credit hours. Data on administrative costs and credit hours for the past thirteen months are shown below: The controller's office has analyzed the data and has given you the results from the regression analysis: The percent of the total variance that can be explained by the regression is: Multiple Choice 70.3%. 63.8%. 62.9% 73.6%
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