Thanec 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 Machine Hours 2,909 3,988 2, 3a 3.500 February March April May June July August September October Nove her December 4,200 3,700 4,5 3,900 2,400 4,100 5,400 5,000 Electricity Costs $19,490 $23,000 $14,50 $25,000 $29, 250 $24,000 $25,750 $23.750 $17,50 $28,000 $33,000 $28,750 Summary Output Regression Statistics Multiple R 3.945 R Square 3.892 Adjusted 2 3.882 Standard Error 1,809.89 Observations 12.09 Intercept Machine Hours Coefficients 4,788.52 5.19 Standard Errer Stat P-value Lower 95% t Upper 95% 2, 2e7.13 2.17 0.96 (129.26) 9,706.31 8.57 9.11 8.80 3.92 6.46 Based on the results of the high-low analysis, the estimate of electricity costs in a monto with 2600 machine hours would be: (Round cost per machine hour to 2 decimal places and all other doilor amounts to nearest whole dollar.) ( Multiple Choice $16.284 $22.051. o o o c $6359 $18.274