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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

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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: Machine Hours 3.250 3,770 2.4701 4,030 4,940 Month January February March April May June July August September October November December Electricity Costs 22.080 25.200 16.200 27,600 33,900 26,400 29.700 27,300 18.600 31.200 37,200 33,300 4.290 5,330 4.550 2.600 4,810 6,110 5,4601 Required: a. Using Excel, perform a regression analysis on the above data and generate a summary output. (Follow the instructions in your text book on pages 197-202). b. What is the equation for utility costs using the regression analysis

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