The Hard Rock Mining Company is trying to develop cost formula for utility cost.Two independent vari

The Hard Rock Mining Company is trying to develop cost formula for utility cost.Two independent variables are being considered: Tons Mined and Direct Labor hours. As the managerial accountant, you are to decide which independent variable is best to use. Each question is worth 2 points. The following quarterly information is available for Tons Mined: Quarter Tons Mined Utility Cost Year 1–First 15,000 $50,000 Year 1–Second 11,000 $45,000 Year 1–Third 21,000 $60,000 Year 1–Fourth 12,000 $75,000 Year 2–First 18,000 $100,000 Year 2–Second 25,000 $105,000 Year 2–Third 30,000 $85,000 Year 2–Fourth 28,000 $120,000 1. Complete a scattergraph. Include r-square factor and equation. Make sure the trend line touches the y axis. Show your scattergraph below. Make sure the graph it fits nicely on the page.

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