Because of fluctuations in insurance coverage, the average price paid out of pocket (P) by patients of an urgent care center varied, as the table shows. The number of visits per month (Q) also varied, and an analyst believes the two are related. The analyst also thinks the data show a trend. Run a regression of Q on P and Period to test these hypotheses. Then use the estimated parameters a, b, and c and the values of Month and P to predict Q (number of visits). The prediction equation is Q = a + (b × Month) + (c × P).

Transcribed Image Text:

Month 1 P Q 4 5 6 7 8 9 10 11 12 2 3 $21 $18 $15 $24 $18 $21 $18 $15 $20 $19 $24 $20 193 197 256 179 231 214 247 273 223 225 198 211