Craigco wants to estimate its total electricity costs at its manufacturing plant. They cannot decide whether to use units produced or machine hours as their cost driver. Data for the past 6 months is presented below. Month Electricity Costs Units produced Machine Hours 1 $ 182,520 4,400 1463 2 $ 180,330 4,300 1408 3 $ 188,320 4,800 1608 4 $ 184,720 4,600 1518 5 $ 177,600 4,000 1340 6 $ 182,740 4,450 1469 a) Use the high low method to create the cost formula for electricity cost using units produced as the cost driver. (2 marks) b) What is the forecast total electricity cost if they produce 4,500 units? (2 mark) c) Use the regression create the cost formula for electricity cost using machine hours as the cost driver.(2 marks) d) What is the r squared of this formula? Is it a good fit for the data? Why or why not (2 marks) e) What is the forecast total electricity cost if they use 1,800 machine hours? (2 marks)