Question

The Stanford Company incurred the following maintenance cost during a five month period: Month Production Volume...

The Stanford Company incurred the following maintenance cost during a five month period:

Month Production Volume Maintenance Costs
June 75 $250
July 115 310
August 190 400
September 60 240
October 135 355


Using a computer or calculator, compute the estimate of the fixed portion of maintenance costs using the method of least squares. Rounded to dollars, this value would be?

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