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If 25,500 nursing hours are predicted for the month, what is the total predicted hospital Overhead? 6 Dawson runs a regression analysis using nursing hours
If 25,500 nursing hours are predicted for the month, what is the total predicted hospital Overhead?
6 Dawson runs a regression analysis using nursing hours as the cost driver to predict total hospital overhead costs. The Excel output from the regression analysis is as follows: A SUMMARY OUTPUT- Nursing hours as cost driver Regression Statistics 3 Multiple R 4 R Square 5 Adjusted R Square 6 Standard ErTor 7 Observations 8 0.984685 0969605 0.962006 11,992.70481 6 ANOVA df 1 18,352,033,459 18,352,033,459| 127.599774 4 525299,875 143,824969 5 18.877.333334 Significance F 0.00035 9 10 Regression 11 Residual 12 Total MS F 13 Standard Frror 25,618.85 1041 Upper 95% 0.001 128,480.456 270,739.118 14.643 Lower 14 Coefficients 16 Intercept 199,609.79| 11.75 15 Pvalue tStat 7.792 11.296 95% 17 X Variable 1 8.865 0.000 18 If 25,500 nursing hours are predicted for the month, what is the total predicted hospi- tal overhead? NmStep by Step Solution
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