Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Many factors affect the total expenses of a hospital. Two of these factors are the number of beds in the hospital and the number of
Many factors affect the total expenses of a hospital. Two of these factors are the number of beds in the hospital and the number of admissions. Data were collected on 15 hospitals in the city and province, as shown in the table below:
Hospital | Number of beds | Admissions (100s) | Total expenses (1M) |
1 | 220 | 80 | 60 |
2 | 340 | 160 | 130 |
3 | 520 | 230 | 160 |
4 | 150 | 50 | 25 |
5 | 40 | 10 | 15 |
6 | 210 | 150 | 90 |
7 | 140 | 50 | 50 |
8 | 100 | 6 | 5 |
9 | 420 | 160 | 100 |
10 | 50 | 20 | 12 |
11 | 80 | 18 | 10 |
12 | 40 | 30 | 15 |
13 | 110 | 30 | 20 |
14 | 300 | 100 | 65 |
15 | 250 | 120 | 70 |
please help me interpret the following using the QM for windows.
- Write the regression equation between total expenses and number of beds.
- Based on No. 1, determine and interpret the coefficient of determination and the coefficient of correlation.
- Based on No. 1, is there a significant linear relationship (at 0.05 level of significance) between total expenses and number of beds? Why?
- Write the regression equation between total expenses and admissions.
- Based on No. 4, determine and interpret the coefficient of determination and the coefficient of correlation.
- Based on No. 4, is there a significant linear relationship (at 0.05 level of significance) between total expenses and admissions? Why?
- Write the regression equation relating total expenses to number of beds and admissions.
- Based on No. 7, determine and interpret the coefficient of determination.
- Based on No. 7, forecast total expenses at 200 number of beds and 10,000 admissions.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started