Falcon, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output:

Regression Statistics
Multiple R	0.9723
R Square	0.9485
Observations	30

	Coefficients	Standard Error	T Stat	P-Value
Intercept	174,537	61,137	2.85	0.021
Production (X)	11.39	0.9215	12.36	0.000

What is Falcon's formula for estimating costs? (Cost equation of Falcon)

• Total cost = $174,537 + ($11.39 Production)

• Total cost = $11.39 + ($0.9215 Production)

• Total cost = $61,137 + ($0.92 Production)

• Total cost = $174,537 + ($61,137 Production)