Answer #2 at the bottom

Question 1) Apollo's Hospital's CFO, Julic, has been concerned of late about the hospital's consumption of medical supplies. To better understand the behavior of this cosi, Julie consults with Rhett, the person responsible for Apollo's cost system. After some discussion, Jutic in nhit conclude that there are two potential cost drivers for the hospital's medical supplies costs. The first driver is the total number of procedures performed. The second is the number of patient-hours generated by Apollo. Julie and Rhett view the latter as a potentially better cost driver because the hospital does perform a variety of procedures, some more complex than others. Rhett provides the following data relating to the past year to Julie. Required (round all numbers to two decimal places, if needed): 1. Run a regression analysis on Excel for medical supplics costs using number of procedures as your driver. Make sure this is included in your homework submission. You can answer the following questions on the same tab/sheet or write them down and submit separately: a. Using your results from (1), write the cost formula for medical supplies cost. b. Using the cost formula from (la), what would medical supplies cost be for a month with 417 procedures? c. Using the high-low method , write the cost formula for medical supplies cost using number of procedures as your driver. 2. On a separate tab/sheet on the same file, run a regression analysis on Excel for medical supplies costs using number of patient-hours as your driver. Make sure this is included in your homework submission. You can answer the following questions on the same tab/sheet or write them down and submit separately: a. Using your results from (2), write the cost formula for medical supplies cost. b. Using the cost formula from (2a), what would medical supplies cost be for a month with 3,333 patient-hours? c. Using the high-low method", write the cost formuln for medical supplies cost using number of patient-hours as your driver