The Business School at Eastern College is accumulating data as a first step in the preparation of next year's budget development. One cost that is being looked at closely is administrative costs as a function of student credit hours. Data on administrative costs and credit hours for the most recent academic year is shown below:

Month Administrative Costs Credit Hours

July $129,301 250

August 82,613 115

September 228,580 1,392

October 216,394 1,000

November 258,263 1,309

December 184,449 1,112

January 219,137 1,339

February 245,000 1,373

March 209,642 1,064

April 191,925 1,123

May 249,978 1,360

June 170,418 420

July 128,167 315

Total $2,385,700 11,857

Average $198,808 988

The controller's office has analyzed the data and has given you the results from the regression analysis:

SUMMARY OUTPUT Regression Statistics Multiple R 0.93346722 R Square 0.87136104 Adjusted R Square 0.85966659 Standard Error 19943.5805 Observations 13 ANOVA df SS MS F Significance F Regression 1 29636340628 2.96363E+10 74.5106436 3.14788E-06 Residual 11 4375210454 397746405 Total 12 34011551082 Coefficients Standard Error t-Stat P-value Lower 95% Upper 95% Lower Upper 95.0% 95.0% Intercept $96,409.42 12521.26261 7.69965611 9.381E-06 68850.28899 123968.543 68850.289 123968.543 Credit Hours $103.56 11.9974027 8.63 19548 3.1479E-06 77.15491912 129.967156 77. 1549191 129.967 156