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 $3,300$ $ $18,800$

February $3,70021,800$

March $2,70013,900$

April $3,90023,800$

May $5,20028,650$

June $4,10022,800$

July $5,10025,150$

August $4,30023,150$

September $2,80016,300$

October $4,50026,800$

November $6,20031,800$

December $5,70028,150$

Summary Output

Regression Statistics

Multiple R $0\mathrm{.}957$

R Square $0\mathrm{.}916$

Adjusted R$20\mathrm{.}908$

Standard Error $1,584\mathrm{.}49$

Observations $12\mathrm{.}00$

Coefficients Standard Error t Stat P$-$value Lower $95\%$ Upper $95\%$

Intercept $3,998\mathrm{.}651,911\mathrm{.}172\mathrm{.}090\mathrm{.}06(259\mathrm{.}71)8,257\mathrm{.}01$

Machine Hours $4\mathrm{.}530\mathrm{.}4310\mathrm{.}470\mathrm{.}003\mathrm{.}565\mathrm{.}49$