Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Recent research into the cost of various medical procedures has shown the impact of certain complications encountered in surgery on the total cost of a

image text in transcribed
Recent research into the cost of various medical procedures has shown the impact of certain complications encountered in surgery on the total cost of a patient's stay in the hospital. The researchers used regression analysis and found the following results: Total cost for patient = Constant, plus a* Length of stay (measured in days), plus b* Presence of one or more complications (1if true, o if false).plus c* Use of a laparoscope (= 1 if true. Of false) where a, b, care coefficients of the regression model. The laparoscope is an instrument somewhat like a miniature telescope with a fiber optic system that brings light into the abdomen. It is about as big around as a fountain pen and twice as long The research, based on 74 patients, showed the following regression results: Rsquared: 54% Constant term: $3,834 Coefficients and t-values for independent variables: Length of stay Complications Laparoscope Coefficient t-value $ 771 9.47 $ 1,739 5.32 $ 978 2.10 Required: 1. What is the estimated cost for a patient whose surgery has complications and who stays in the hospital 2 days, and whose surgery requires a laparoscope? Estimated cost

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

Clinical Audit In Mental Health Toward A Multidisciplinary Approach

Authors: John Riordan, Darren Mockler

1st Edition

0471963321, 978-0471963325

More Books

Students also viewed these Accounting questions