Part 2: Cameron 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:

Month	MACHINE HOURS	ELECTRICITY COSTS
JAN	3250	22080
FEB	3770	25200
MAR	2470	16200
APR	4030	27600
MAY	4940	33900
JUN	4290	26400
JUL	5330	29700
AUG	4550	27300
SEP	2600	18600
OCT	4810	31200
NOV	6110	37200
DEC	5460	33300

Required: a. Using Excel, perform a regression analysis on the above data and generate a summary output.

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.