Ra 2b 20 4a 4b 07:32 A Jenny Jay the management accountant, at Pencilwares Pty Ltd is trying to estimate the fixed and variable electricity costs incurred in the production of pencil cases, which is part of the company's stationary range. She has compiled the following information for the period January-December: 24 Marks Month Electricity Costs No. of pencil cases ($) (Units) January February March 33,400 12,800. 28,700 9,000 39,300 13,500 April 26,000 8,000 May 30,040 11,250 June 29,000 10,250 July 26,760 7,800 August 28,880 9,500 September 35,000 12,900 October 32,000 11,700 November 40,000 13,400 December 33,600 10,900 MacBook Pro 4e) Report question issue Jenny Jay has decided to try running a regression on the data she collected. The output she got from the regression analysis is as follows: Intercept No. of pencil cases R Square Coefficients 9474 2.05 0.8410 Using this regression output: i) explain and interpret the R2 and ii) develop a formula/cost function to estimate the cost behaviour exhibited by the company's electricity costs and use this formula to predict the electricity cost if 12,000 pencil cases are produced. Show all workings. A B IU X2 x MacBook Pro E E ABC 123 6 Marks