Regression Analysis Using Excel (Appendix). Walleye Company produces fishing reels. Management wants to estimate the cost of production equipment used to produce the reels. The company reported the following monthly cost data related to production equipment:

Reporting Period (Month)	Total Costs	Machine Hours
January	$1,104,000	54,000
February	720,000	30,000
March	600,000	24,000
April	1,320,000	108,000
May	1,368,000	114,000
June	744,000	36,000
July	1,056,000	45,600
August	1,092,000	57,600
September	1,272,000	93,600
October	1,152,000	61,200
November	1,680,000	115,200
December	1,176,000	64,800

Required:

1. Use Excel to perform regression analysis. Provide a printout of the results.
2. Use the regression output to develop the cost equation Y = f + vX by filling in the dollar amounts for f and v.
3. What would Walleye Companys estimated costs be if it used 90,000 machine hours this month?