Clough Company is interested in establishing the relationship between utility costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow: R Square Adjusted R-Square Standard Error Observations 93.2% 92.5% 1.710.21 12.00 Required: 1. What is the equation for utility costs using the regression analysis? Does the variable "machine hours" have statistical significance? Explain. 2. What is the equation for utility costs using high-low method? If November data is missing, which month will be chosen as the high point in high-low method? 3. An estimate of utility costs for a quarter ( 3 months) when 12,000 machine hours are worked with high-low method.