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 January February March April May June July August September October November December Machine Hours 2,300 2,700 1,700 2,900 3,600 3,100 3,900 3,300 1,800 3,500 4,500 4,000 Electricity Costs $19, 100 $22,400 $14,200 $24,400 $28,950 $23,400 $25,450 $23,450 $ 16,900 $27,400 $32,400 $28,450 Summary Output Regression Statistics Multiple R 0.957 R Square 0.917 Adjusted R2 0.908 Standard Error 1,586.26 Observations 12.00 Intercept Machine Hours Coefficients Standard Error t Stat P-value Lower 95% Upper 95% 5,970.52 1,766.77 3.38 0.01 2,033.90 9,907.13 5.76 0.55 10.49 0.00 4.54 6.98 Based on the results of the regression analysis, the estimate of electricity costs in a month with 2,000 machine hours would be: (rounded to the nearest whole dollar) Multiple Choice O $5,971. $23,300. 0 $17,491. $16,265