TB MC Qu. 5-58 (Algo) The College of Business at Northeast College... The College of Business at Northeast College is accumulating data as a first step in the preparation of next year's budget development. One cost that is being looked at closely is administrative costs as a function of student credit hours. Data on administrative costs and credit hours for the past thirteen months are shown below: Month July August September October November December January February March April May June July Total Average Administrative Credit Costs Hours $ 129,951 900 83,133 453 225,970 1,730 216,654 1,338 258, 393 1,647 185,099 1,450 219,657 1,677 245,390 1,711 209,722 1,402 192,055 1,461 250, 628 1,698 170,938 758 128,557 653 $2,516, 147 16,878 $ 193,550 1,298 The controller's office has analyzed the data and has given you the results from the regression analysis: The controller's office has analyzed the data and has given you the results from the regression analysis SUMMARY OUTPUT Regression Statistics Multiple R 8.9252908 R Square 0.856162998 Adjusted R Square 0.843086996 Standard Error 20,999. 37824 Observations 13 ANOVA df 1 11 12 F -65.4754536 Significance F 5.86044E-26 Regression Residual Total SS MS 28,872,943, 235 28,872,943, 235 4,858, 709,056 440,973,550.5 33,723,652,290 Intercept X Variable 1 Coefficients Standard Error t Stat P-value Lower 95% Upper 95 Lower 95.09 Upper 95. 51,876.70822 18,451.75641 2.81147805 0.016923707 11,264.66618 92,488.7502 11,264.66618 92,488.75 109.1213291 13.48560359 8.091690403 5.86044E-06 79.43971576 138.802943 79.43971576 138.88294 If the controller uses the high-low method to estimate costs, the variable cost per credit hour is: ntercept Variable 1 Coefficients Standard Error t Stat P-value Lower 95 Upper 95 Lower 95.0Upper 95.0% 51,876.70822 18,451.75641 2.81147805 0.016923707 11,264.6661892,488.7502 11,264.66618 92,488.7502 109. 1213291 13.48560359 8.991690403 5.86044-06 79.43971576 138.802943 79.43971576 138.802943 he controller uses the high-low method to estimate costs, the variable cost per credit hour is Multiple Choice $103.45 $201.00 $82.22 $111.85