Use the following to answer the next 2 questions: Fred's Frozen Creations has been contracted to train Utah's synchronized ice sculpting team. They have identified two different independent variables (ice sculpting hours and number of ice blocks used in training) in two different equations to evaluate the cost of training. The results of the two regressions are as follows: SUMMARY OUTPUT Sculpting hours Regression Statistics Multiple R 0.6986 R Square 0.4532 Adjusted R Square 0.3143 Standard Error $40,587 Observations 24 Standard Coefficients Error t Stat Intercept $1,214.35 $425.78 2.85 Sculpting hours $21.90 $6.78 3.23 SUMMARY OUTPUT - Number of ice blocks Regression Statistics Multiple R 0.6145 R Square 0.3320 Adjusted R Square 0.2874 Standard Error $43,127 Observations 24 Coefficients Standard Error t Stat Intercept $6,764.58 Number of blocks $223.48 $2,273.09 $152.58 2.98 1.46 3. Using the best cost driver, what is the estimated total cost of training these athletes if 12,300 sculpting hours are incurred and Fred's uses 1,190 ice blocks during training? Assume these estimates are within the relevant range. 4. Assume Fred's Frozen Creations chooses to use the number of ice blocks to estimate the cost of training. Construct a 90% confidence interval for the cost of training when the number of ice blocks used is estimated at 1,300. Assume 1,300 ice blocks is within the relevant range. (Round all calculations to the nearest dollar)