Question
Use the table to answer A-D. A. Interpret the coefficient of determination R2 estimated for the nursing cost function. B. Describe the economic and statistical
Use the table to answer A-D.
A. Interpret the coefficient of determination R2 estimated for the nursing cost function.
B. Describe the economic and statistical significance of each estimated coefficient in the nursing cost function.
C. Average nursing costs for the 8-for profit hospitals in teh sample are only $318.52 per patient day or $33.07 per patient day less than the $351.59 average cost experienced by the 32 not for profit hospitals. How can this fact be reconciled iwth the estimated coefficient of -39.156 for the for profit status variable?
D. Would such an approach for nursing cost estimation have practical relevance for publicly funded nursing cost reimbursement systems?
SUMMARY OUTPUT Regression Statistics Multiple F 0.876094 R Square 0.767541 Adjusted 0.733356 Standard! 26.09716 Observati 40 ANOVA Regressio Residual Total df SS MS F gnificance F 5 76457.53 15291.51 22.45246 6.83E-10 34 23156.1 681.0616 39 99613.63 Coefficientandard Em Stat P-value Lower 95% Upper 95% ower 95.0%pper 95.0% Intercept -22.1343 39.89693 -0.55479 0.582672 -103.215 58.946 -103.215 58.946 Shots 72.76465 32.25109 2.256192 0.030602 7.222545 138.3067 7.222545 138.3067 IV Therap 215.6825 33.21033 6.494441 1.98E-07 148.191 283.174 148.191 283.174 Taking 36.24152 7.736009 4.684783 4.39E-05 20.52006 51.96299 20.52006 51.96299 Dressing 156.0406 29.08699 5.364619 5.77E-06 96.92876 215.1525 96.92876 215.1525 0=Not-for-39.1564 10.42554 -3.75581 0.000648 -60.3436 -17.9691 -60.3436 -17.9691 SUMMARY OUTPUT Regression Statistics Multiple F 0.876094 R Square 0.767541 Adjusted 0.733356 Standard! 26.09716 Observati 40 ANOVA Regressio Residual Total df SS MS F gnificance F 5 76457.53 15291.51 22.45246 6.83E-10 34 23156.1 681.0616 39 99613.63 Coefficientandard Em Stat P-value Lower 95% Upper 95% ower 95.0%pper 95.0% Intercept -22.1343 39.89693 -0.55479 0.582672 -103.215 58.946 -103.215 58.946 Shots 72.76465 32.25109 2.256192 0.030602 7.222545 138.3067 7.222545 138.3067 IV Therap 215.6825 33.21033 6.494441 1.98E-07 148.191 283.174 148.191 283.174 Taking 36.24152 7.736009 4.684783 4.39E-05 20.52006 51.96299 20.52006 51.96299 Dressing 156.0406 29.08699 5.364619 5.77E-06 96.92876 215.1525 96.92876 215.1525 0=Not-for-39.1564 10.42554 -3.75581 0.000648 -60.3436 -17.9691 -60.3436 -17.9691Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Auditing And Systems Exam Questions And Explanations
Authors: Irvin N. Gleim, William A. Hillison
13th Edition
1581945272, 978-1581945270
