Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow:

Month	Machine Hours	Electricity Costs
January	2,900	$	19,400
February	3,300	$	23,000
March	2,300	$	14,500
April	3,500	$	25,000
May	4,200	$	29,250
June	3,700	$	24,000
July	4,500	$	25,750
August	3,900	$	23,750
September	2,400	$	17,500
October	4,100	$	28,000
November	5,400	$	33,000
December	5,000	$	28,750

Summary Output
Regression Statistics
Multiple R	.945
R Square	.892
Adjusted R2	.882
Standard Error	1,809.89
Observations	12.00

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%
Intercept	4,788.52	2,207.13	2.17	0.06	(129.26)	9,706.31
Machine Hours	5.19	0.57	9.11	0.00	3.92	6.46

The correlation coefficient for the regression equation for electricity costs is:

0.882.

0.892.

0.945.

0.942.