Standard Error Of the Estimate. The controller of Fratiani Company used the method of least squares to com¬ pute the fixed and variable components of utility cost from the following data:

Utility Labor Month Cost Hours January.

. $3,600 2,650 February.

. 4,000 3,000 March.

. 4,000 2,900 April.

. 3,800 2,800 May.

. 3,700 2,700 June.

. 3,500 2,550 Utility Labor Month Cost Hours July. $3,900 3,000 August. 4,100 3,300 September. 4,500 3,500 October. 4,200 3,200 November. 4,300 3,050 December. 4,400 3,350 Required: Assuming that the least squares estimate of fixed cost is $1,000 and the variable rate is $1.00, com¬ pute the standard error of the estimate to three decimal places.