Regression Statistics
Multiple R	0.9758
R Square	0.9522
Observations	26

	Coefficients	Standard Error	T Stat	P-Value
Intercept	20,071	8,672	2.31	0.030
Production (X)	6.76	0.5837	11.58	0.000

Suppose that you need to interpret the above regression analysis output of the product cost to someone who knows little about statistics.

Follow what I explained in the lecture video and interpret the output in your own plain words. NO plagiarism.

Explain the above numbers and how we use them to analyze or estimate product costs (including but not limited to R-square, coefficients, confidence intervals, p-value, etc.).