Regression Statistics
Multiple R	0.9654
R Square	0.9320
Observations	20

	Coefficients	Standard Error	T Stat	P-Value
Intercept	21,360	8,137	2.63	0.017
Production (X)	5.84	0.5430	10.76	0.000

Suppose that you need to interpret the above regression analysis output of the product cost to someone who knows little about statistics.

Follow what I explained in the lecture video and interpret the output in your own plain words. NO plagiarism.

Hint: Explain the above numbers and how we use them to analyze or estimate product costs (including but not limited to R-square, coefficients, confidence intervals, p-value, etc.).