A firm wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression analysis performed using Microsoft Excel showed the following information: E: (Click the icon to view the regression data.) 1. Given this output, write the firm's monthly cost equation. 2. Should management use this equation to predict monthly operating costs? Explain your answer. 1. Given this output, write the firm's monthly cost equation. (Round your answers to two decimal places, X.XX.) The firm's month cost equation is: y = 7x+ - X Regression data 0.87 Regression Statistics Multiple R R Square Adjusted R Square Standard Error 0.75 0.7 181.55 Observations 12 ANOVA df SS F MS 498803 Significance F 0.0003 1 30.26776 Regression Residual Total 498803.1 164796.9 10 16480 11 663600 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% 1964.29 826.89 0.04 121.86 3806.72 Intercept X Variable 1 2.38 3.89 0.2 0.05 0.00 0.09 0.31 Print Done