Part 2: Classic 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	Electric
Month	Hours	Costs
January	2470	16200
February	5330	29700
March	4810	31200
April	3250	22080
May	5460	33300
June	3770	25200
July	4940	33900
August	4030	27600
September	6110	37200
October	2600	18600
November	4550	27300
December	4290	26400
January	6450	38900
February	3175	26500
March	2785	18500

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?

c. Prepare an estimate of utility costs for a month when 3,000 machine hours are worked