The director of surgery at a local hospital is interested in understanding his unit's costs. An assistant collected data for the past 36 months on unit cost (labor, supplies, and so on) along with the number of procedures performed in the unit. The assistant analyzed the data using a spreadsheet program, and the following output was generated. $1,281, Bee $ 205 Equation Intercept Coefficient on procedures Statistical data Correlation coefficient R2 0.493 0.243 The unit is planning to perform an average 16.000 procedures per month for the coming year. Required: . Use the regression output to write the surgical unit cost equation. b. Based on the cost equation, compute the estimated costs for the surgical unit per month for the coming year. c. The director of surgery has asked you for advice on whether he should rely on the estimate. Complete this question by entering your answers in the tabs below. Required A Required B Required Use the regression output to write the surgical unit cost equation. Surgical unit cost x Procedures The director of surgery at a local hospital is interested in understanding his unit's costs. An assistant collected data for the past 36 months on unit cost (labor, supplies, and so on) along with the number of procedures performed in the unit. The assistant analyzed the data using a spreadsheet program, and the following output was generated. $1,081, eee $ 2e5 Equation Intercept Coefficient on procedures Statistical data Correlation coefficient R2 0.493 0.243 The unit is planning to perform an average 15.000 procedures per month for the coming year. Required: a. Use the regression output to write the surgical unit cost equation. b. Based on the cost equation.compute the estimated costs for the surgical unit per month for the coming year. c. The director of surgery has asked you for advice on whether he should rely on the estimate. Complete this question by entering your answers in the tabs below. Required A Required B Required Based on the cost equation, compute the estimated costs for the surgical unit per month for the coming year. Surgical unit costs The director of surgery at a local hospital is interested in understanding his unit's costs. An assistant collected data for the past 36 months on unit cost (labor, supplies, and so on) along with the number of procedures performed in the unit. The assistant analyzed the data using a spreadsheet program, and the following output was generated. $1,081, eee $ 2e5 Equation Intercept Coefficient on procedures Statistical data Correlation coefficient R2 0.493 0.243 The unit is planning to perform an average 15.000 procedures per month for the coming year. Required: a. Use the regression output to write the surgical unit cost equation. b. Based on the cost equation.compute the estimated costs for the surgical unit per month for the coming year. c. The director of surgery has asked you for advice on whether he should rely on the estimate. Complete this question by entering your answers in the tabs below. Required A Required B Required The director of surgery has asked you for advice on whether he should rely on the estimate. OYes No
