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	3,700	$	21,800
March	2,700	$	13,900
April	3,900	$	23,800
May	5,200	$	28,650
June	4,100	$	22,800
July	5,100	$	25,150
August	4,300	$	23,150
September	2,800	$	16,300
October	4,500	$	26,800
November	6,200	$	31,800
December	5,700	$	28,150

Summary Output
Regression Statistics
Multiple R	0.957
R Square	0.916
Adjusted R2	0.908
Standard Error	1,584.49
Observations	12.00

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%
Intercept	3,998.65	1,911.17	2.09	0.06	(259.71)	8,257.01
Machine Hours	4.53	0.43	10.47	0.00	3.56	5.49

If the controller uses regression analysis to estimate costs, the estimate of the fixed portion of electricity costs is:

Multiple Choice