Suppose that additional data was located by Silmarilion (discussed in the Regression - Part 1 problem above) and used to run an additional regression analysis. This additional data includes other potential cost drivers that help explain/predict overhead costs.

The regression output is as follows:

Count = 16

R-squared = 0.801

Adjusted R-squared = 0.770

	Coefficient	Std Error	t-value	p-value
Intercept	10,433	1,644	4.09	0.01
Labor hours	541	290	3.10	0.03
Machine hours	21	4	2.98	0.02
Units produced	4	3	1.01	0.11

Regression - Part 2 - Required

Assess the usefulness of this additional regression model in predicting overhead costs for a future month.

Provide clear reasoning using the elements of the regression output to support your answer.

(Note: You can provide your answer to this item in the provided textbox; also, feel free to show any supporting work here as well.)