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Answer and explain all parts please Regression Analysis Handout Betty Yeager has been operating a dental practice for the past five years. As part of
Answer and explain all parts please
Regression Analysis Handout Betty Yeager has been operating a dental practice for the past five years. As part of her practice she provides a dental hygiene service. She has found that her costs for this service increase with patient lond. Costs for this service over the past eight months are as follows: Month May June July August September October November December Patients Served 320 480 600 200 720 360 630 300 Total Cost $2.000 $2,500 $3.000 S1.900 $4.500 52.900 $3,400 $2.200 Questions 1 Determine the cost estimation model using the high-low method. 2 Estimate the cost of dental hygiene services for January for 450 patients using the cost estimation model from (1) 3. Determine the cost estimation model nising the method of least squares 4 Estimate the cost of dental liygiene services for January for 450 patients using the cost estimation model from (3) Determine the coefficient of deteanination. What does this measure tell you about the cost estimation model from (3) Joe Bauer Inic specializes in the painting of older homes and employs several painters. It is essential for Joe Baner to have accurate cost estimates so he can estimate painting costs before he accepts a job. Joe has been using the home's square feet for his paint cost estimates. Recently, he decided to use the number of openings (total number of doors and windows) in a louse as a cost driver since the cost of painting trim work around doors and windows is significant. Joe has kept records of his past 12 jobs Job 1 2 3 4 5 6 7 8 9 10 11 12 Sg feet 2600 3010 2800 2850 4050 2700 2375 2450 2600 3700 2650 3550 Openings 13 13 12 12 19 13 11 11 10 16 13 16 Cost (S) 3300 3750 3100 3150 4700 3250 2800 2800 2873 4100 3200 3950 a Joc has been offered a job to paint a 3400 square foot home with 14 openings for $4.000. If Joe has a minutum acceptable profit margin of 20% over cost should he accept the job Explain your Step by Step Solution
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