Refer to the data in Exercise 3.26.

Data in Exercise 3.26

Required:
1. Construct an Excel spreadsheet to estimate the company's utilities cost behaviour.
2. Provide an assessment of the explanatory power of this equation (using the equation and other statistics).

Utilities cost Month Machine hours $35 100 52 500 January 33 150 February 31 500 33 000 March 33 000 33 675 April 36 000 34 350 May 45 000 35 025 June 48 000 42 000 July 60 000 34 200 August 45 000 34 500 September 45 000 34 050 October 42 000 36 150 November 61 500 37 425 December 58 500