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 (-1 if true 0 f false) plus cx Use of a laparoscope (=1 if true, o if 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 following table shows additional regression results presented by the researchers in the study described above. There are two regressions. The right hand column shows the results for all patients, including those treated with laparoscopic surgery. The left-hand column shows the results for the sample of patients who were treated without the laparoscopic surgery Honlaparoscopic Patients Only Coefficients for independent variables Regression intercept $ 8,318 $ 3,809 Length of stay Coefficient Not significant 850 Standard error for the coefficient Not applicable 83 Number of complications Coefficient 3,914 Standard error for the coefficient 1,259 Laparoscopic Coefficient Not applicable 920 Standard error for the coefficient Not applicable 347 R-squared 0.23 0.53 All Patients 1,955 497 *Note: All independent variables are significant at the level of p=005 (and value > 2) except for the length of stay variable in the nonlaparoscopic condition Also, thet value for each independent variable can be calculated by dividing the coefficient of the variable by the standard error for the coefficient of that variable Required: stimation Homework "Note: All independent variables are significant at the level of p-005 (and value > 2) except for the length of stay variable in the nonlaparoscopic condition. Also, the value for each Independent variable can be calculated by dividing the coefficient of the variable by the standard error for the coefficient of that variable Required: 1. Which of the two regressions has the better reliability in estimating costs? Regression of all patients O'Regression of nonlaparoscopic patients only Book 2. Calculate the value for each of the independent variables (Round your answers to 2 decimal places.) Print Nonlaparoscopic Patients Only All Patients I value t-value $ ferences 8,318 3.809 $ 050 Not significant Not applicable 13 Coefficients for Independent Variables Regression intercept Length of stay Coeficient Standard error for the coeficient Number of Complications Coelent Standard stor for the coufficient Laparoscopic Coefficient Standard error for the coefficient Rsquared 3,014 1250 1965 407 Not applicable Not applicable 0.23 920 347 053
