CBK Inc. started its operations in January 2023. The following information was gathered by the company's accountant to predict the company's utilities costs as a function of machine hours for July 2023, and you have been asked to help with this task, given what you learned so far in the course. Month Utilities costs Number of machine hours January $13,200 3,450 February $13,900 3,800 March $14,500 3,950 April $12,690 3,750 May $1 1,750 3,300 June $1 1,390 3,320 The accountant performed regression analysis using the above data and obtained the following results: Intercept Coefficient: -838.02 X Variable 1 Coefficient = 3.83 R-squared = 0.75 In the space provided below, answer the following questions: 1. Write the cost equation for predicting costs using the regression method. (4 marks) 2. Using the regression output, compute the expected utilities cost in July assuming 3,700 machine hours are expected. (3 marks) 3. Using the High-Low method, what are the highest and lowest points? (3 marks) 4. Use the High-Low method to develop the cost equation for predicting the utilities cost in July (you must show all calculations). (13 marks) 5. Using the above regression results, what suggestions would you make to company's accountant to improve the cost prediction in July