Classic Company is interested in establishing the relationship between utility costs and machine hours. Data has been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow: Required:

a. Using Excel, perform a regression analysis on the above data and generate a summary output. (Follow the instructions in your text book on pages 197-202).

b. What is the equation for utility costs using the regression analysis?

c. Prepare an estimate of utility costs for a month when 3,000 machine hours are worked.

Part 2: Classic Company is interested in establishing the relationship betwee Data has been collected and a regression analysis prepared using Excel. The output follow: M Month January 2021 February 2021 March 2021 April 2021 May 2021 June 2021 July 2021 August 2021 September 2021 October 2021 November 2021 December 2021 January 2022 February 2022 March 2022 Machine Hours 2,470 5,330 4,810 3,250 5,460 3,770 4 940 4,030 6,110 2,600 4,550 4,290 6,450 3,175 Electricity Costs 16,200 29,700 31,200 22,080 33,300 25, 200 33,900 27,600 37,200 18,600 27,300 26.400 38,900 26,500 18,500 2.785 Required: a. Using Excel, perform a regression analysis on the above data and generate a su 32 words ViewSonic