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 January February March April May June July August September October November December Machine Hours 2,700 3,100 2,100 3,300 4,000 3,500 4,300 3,700 2,200 3,900 4,900 4,400 Electricity Costs $18,500 $21,200 $13,600 $23,200 $28,350 $22,200 $24,850 $22,850 $15,700 $26,200 $31,200 $27,850 Summary Output Regression Statistics Multiple R 0.965 R Square 0.930 Adjusted R2 0.923 Standard Error 1,443.07 Observations 12.00 Intercept Machine Hours Coefficients Standard Error t Stat P-value Lower 95% Upper 95% 2,728.64 1,800.97 1.52 0.16 |(1,284.17) 6,741.44 5.77 0.50 11.56 0.00 4.66 6.88 If the controller uses the high-low method to estimate costs, the fixed cost portion of the cost equation for electricity costs is: (Round intermediate calculations to 2 decimal places.) (0) $379.00. $1,443.07. () $2,728.64. $23,821.00