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 past thirteen months are shown below: Month July August September October November December January February March April May June July Administrative Costs $ 128,644 83,244 225,668 216,683 257,900 184,687 219,011 | 245,573 209,182 192,559 249,512 169,867 128,808 Credit Hours 268 158 1,469 1,005 1,295 1,440 1,379 1,433 1,098 1,102 1,609 506 272 Total Average $ 2,511,338 193,180 13,034 1,003 The controller's office has analyzed the data and has given you the results from the regression analysis: The controller's office has analyzed the data and has given you the results from the regression analysis: Regression Statistics Multiple R 0.8998632 R Square 0.809753766 Adjusted R Square 0.792458654 Standard Error 24,123.82488 Observations 13 Anova df SS MS F Significance 14,241,4 27,247,203,032 27,247,203,032 46.8198043 2.79177E-05 Regression | Residual Total 11 6,401,548,193 581,958,926.7 12 33,648,751,226 Standard Coefficients t Stat Error Intercept (101,255.10280 15,008.28564 6.74661352 P-value Lower 95% Upper 95% Lower 95.0% Upper 3.17172E-68,222.08889134,288.116868,222.08889|134,288.1168| 05 91.6849519 | 13.399335606.8424998542.79177E-| 62.19321311 | 121.176691 62.19321311 | 121.176691 Variable 1 05 If the controller uses the high-low method to estimate costs, the cost equation for administrative salaries is: Multiple Choice o Cost = $193,180. o Cost = $188.32 x Credit-hours. o Cost = $193,180.00 + $155.07 x Credit-hours. o Cost = $65,136.69 + $114.59 x Credit-hours