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Performing a regression analysis to predict overhead for a hospital laboratory (Learning Objective 5) The manager of the main laboratory facility at Rosedale Health Center

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Performing a regression analysis to predict overhead for a hospital laboratory (Learning Objective 5) The manager of the main laboratory facility at Rosedale Health Center (from E6-50B) collects seven additional months of data after obtaining the regression results in the prior period. The number of tests performed and the total monthly overhead costs for the lab follows Use Excel to perform the requirements. Run a regression analysis using data from August through February. Determine the lab's cost equation (use the output from the regression analysis you perform using Excel). Determine the R-square using the Excel output you obtain. What does the lab's R-square indicate? Predict the lab's total overhead costs for the month if 2,800 tests are performed

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