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The administrator of Azalea Hills Hospital would like a cost formula linking the administrative costs involved in admitting patients to the number of patients admitted
The administrator of Azalea Hills Hospital would like a cost formula linking the administrative costs involved in | ||||||||
admitting patients to the number of patients admitted during a month. The Admitting Department's cost and | ||||||||
the no. of patients admitted during the immediately preceding four months are given in the following table: |
No. of Patients | Admitting | ||
Month | Admitted | Dept. Costs | |
July | 2,100 | $15,500 | |
August | 1,600 | $14,400 | |
September | 1,300 | $12,600 | |
October | 1,400 | $13,700 |
Using the High-low method calculate the amount of the variable a. Cost formula Y = a + bX.
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