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 Hours Electricity Costs 19,250 $ 22,700 14,350 S 24,700 $ 29,100 $ 23,700 $ 25600 $ 23,600 $ 17,200 $ 27,700 $ 32.700 $ 28,600 January 2,600 3,000 ,900 3,400 4.200 3,600 2100 3,800 4.800 November Summary Output Regression Statistics 955 Multiple R R Square Adjusted R Standard Error Observations 163046 12.00 Coefficients Standard Error t Stat 2.26 0.20 | P-value | Lower 95% | Upper 95% 8,888.32 7.01 Intercept 4476.65 5.76 1,979.98 0.56 64.99 4.50 0.05 Machine Hours If the controller uses the high-low method to estimate costs, the cost equation for electricity cost is: (Round intermediate calculations to 2 decimal places.) O Cost $24,640. O Cost $700Machine-hours, Cost $4,476.65 $5.76x Machine-hours cost : $1,260.00 + $6.55% Machine-hours