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Regression Analysis Handout Betty Yeager has been operating a dental practice for the past five years. As part of her practice. she provides a
Regression Analysis Handout Betty Yeager has been operating a dental practice for the past five years. As part of her practice. she provides a dental hygiene service. She has found that her costs for this service increase with patient load. Costs for this service over the past eight months are as follows: Patients Served Month Total Cost May 320 $2,000 June 480 $2.500 July 600 $3.000 August 200 $1,900 September 720 $4.500 October 560 $2.900 November 630 $3,400 December 300 $2.200 Questions: 2. 3. 4. Determine the cost estimation model using the high-low method. Estimate the cost of dental hygiene services for January for 450 patients using the cost estimation model from (1) Determine the cost estimation model using the method of least squares, Estimate the cost of dental hygiene services for January for 450 patients using the cost estimation model from (3) Determine the coefficient of determination What does this measure tell you about the cost estimation model from (3)
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