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: RSquareAdjustedR-SquareStandardErrorObservations93.2%92.5%1.710.2112.00 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. Prepare an estimate of utility costs for a quarter ( 3 months) when 12,000 machine hours are worked with high-low method