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 2,500 2,900 1,900 3,100 3,800 3,300 4,100 3,500 2,000 3,700 4,700 4,200 Electricity Costs $18,400 21,000 13,500 23,000 28,250 22,000 24,750 22,750 15,500 26,000 31,000 27,750 Summary Output Regression Statistics ultiple R Square 0.932 Adjusted R2 0.925 Standard Error 1,425.18 Observations 12.00 P-value Intercept Machine Hours Coefficients 3,726.88 5.77 Standard Error 1,682.82 0.49 t Stat 2.21 11.7 0.05 0.00 Lower 95% Upper 95% (22.69) 7,476.45 4.67 6.87 If the controller uses the high-low method to estimate costs, the variable cost per machine hour is