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: Machine Electricity Month Hours Costs January 2,600 $19,250 February 3,000 $22,700 March 2,000 $14,350 April 3,200 $24,700 May 3,900 $29,100 June 3,400 $23,700 July 4,200 $25,600 August 3,600 $23,600 September 2,100 $17,200 October 3,800 $27,700 November 4,800 $32,700 December 4,300 $28,600 Summary Output Regression Statistics Multiple R 0.955 R Square 0.912 Adjusted R 0.904 Standard Error 1,630.46 Observations 12.00 Coefficients Intercept Machine Hours 4,476.65 5.76 Standard Error t Stat 1,979.98 2.26 0.56 10.20 P-value 0.05 0.00 The percent of the total variance that can be explained by the regression is: Lower 95% Upper 95% 8,888.32 64.99 4.50 7.01