Refer to E3.11. These data were entered into a regression program, resulting in the following output. Use this output to determine the expected cost if 12,000 miles are logged in one month.

Data from in E3.11

Mitchem Fleet, Inc., has incurred the following maintenance costs on its fleet of taxicabs during the past six months. Use the high/low cost estimation method to determine the expected cost if 12,000 miles are logged in one month.

Intercept X coefficient R square 5013.585 1.473 0.952