Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 2. (30 points total) A hospital is working on pricing decisions for their maternity unit. They have data from past months showing total costs

image text in transcribed

Problem 2. (30 points total) A hospital is working on pricing decisions for their maternity unit. They have data from past months showing total costs and the number of patient days. As a note one patient staying for one day equals one patient day; one patient staying for three days equals three patient days. Number of Patient Days 300 280 260 285 215 Month . february march arri! may iune iuly august september asteber november desember Operating Costs 279,000 282,000 244,400 263,625 212,850 225,400 238,875 240,000 244,150 249,100 252,450 237,500 230 245 250 257 265 270 250 Required: a (5 points) Prepare a scatter plot of the cost data. Plot the operating costs on the vertical axis and the number of patient days on the horizontal axis. B points) Have Excel plot the trendline and include both the linear equation and the R values on your scatter plot. Looking at the trendline and the R' values, do you think that the equation that Excel determined reasonably reflects the relationship of costs and patient volume? Why

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Treasury Financial Manual Volume 1 Book 2

Authors: US Treasury

1st Edition

1790318432, 978-1790318438

More Books

Students also viewed these Accounting questions

Question

Analyse the various techniques of training and learning.

Answered: 1 week ago