Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone please help with regression and overhead cost? Please see attached for the questions. Thanks! Hospital Nursing Number of Overhead Cost Month Overhead Costs

Can someone please help with regression and overhead cost? Please see attached for the questions. Thanks!

image text in transcribed Hospital Nursing Number of Overhead Cost Month Overhead Costs Hours Patient Days Overhead Cost per Nursing Hour per Patient Day July . . . . . . . . $485,000 25,000 3,800 $19.40 $127.63 August . . . . . . $540,000 26,700 4,360 $20.22 $123.85 September . . $420,000 20,000 4,210 $21.00 $99.76 October . . . . . $462,000 21,900 3,450 $21.10 $133.91 November . . . $579,000 32,000 5,600 $18.09 $103.39 December . . . $455,000 20,400 3,270 $22.30 $139.14 Regression Statistics Multiple R 0.967848 R Square 0.93673 Adjusted R Square 0.920913 Standard Error 16,568.3268 Observations Anova 6 df SS MS Significance F F Regressio n 1 16,256,795,521 16,256,795,521 59.221259 0.001534 Residual 4 1,098,037,812 274,509,453 Total 5 17,354,833,333 Intercept X Variable 1 Coefficients Standard Error t Stat Pvalue Lower 95% Upper 95% 187,378.98 39,923.061 4.694 0.009 76,534.789 298,223.164 12.44 1.617 7.696 0.002 7.954 16.933 If 25,500 nursing hours are predicted for the month, what is the total predicted hospital overhead? If 3,640 patient days are predicted for the month, what is the total predicted hospital overhead? Which regression analysis (using nursing hours or using number of patient days as the cost driver) produces the best cost equation? Explain your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Accounting questions