To complete the statement based on the context of bike rental:
The variable \( t \) represents the number of hours Jeremy rents the bike, and the variable \( C(t) \) represents the total cost for Jeremy to rent the bike for \( t \) hours.
The cost function is typically structured like this:
\[ C(t) = \text{flat fee} + (\text{hourly rate} \times t) \]