You answer question 3?

Given the nature of this homework assignment, it can be done completely in Excel. If you prefer to handwrite the non-regression parts, you can submit them separately or attach the image within the Excel file. Please submit vour Excel file for this homework. This assignment is due on or by Friday, September 15 . Question 1) Shady Practice Hospital is trying to determine what is driving their costs and formulas to use to predict future costs at their hospital. You have been assigned to the task of determining these formulas and related costs. Below you will find a screenshot form the Controller's computer showing Medical Supplies costs, Number of procedures, and Number of patient-hours for the past twelve months. Using this information, answer the following questions below: Required (round all numbers to two decimal places, if needed): 1. Run a regression analysis on Excel for medical supplies costs using number of procedunes as your driver. Make sure this is included in your homework submission. You can answer the following questions on the same tab/sheet or write them down and submit separately: a. Using your results from (1), write the cost formula for medical supplies cost. b. Using the cost formula from ( 1a ), what would medical supplies cost be for a month with 417 procedures? c. Using the high-low method", write the cost formula for medical supplies cost using number of procedures as your driver. 2. On a separate tab/sheet on the same file, run a regression analysis on Excel for medical supplies costs using number of patient-hours as your driver. Make sure this is included in your homework submission. You can answer the following questions on the same tab/sheet or write them down and submit separately: a. Using your results from (2), write the cost formula for medical supplies cost. b. Using the cost formula from ( 2a ), what would medical supplies cost be for a month with 3,333 patient-hours? c. Using the high-low method*, write the cost formula for medical supplies cost using number of patient-hours as your driver. 3. Based on your answers from parts 1 \& 2, which driver (number of procedures or number of patient-hours) is better for detemining costs? Explain using R2 as part of your answer. *Note: On lc \& 2c, your fixed cost answers will be slightly different using the high number and/or the low number due to rotinding. Whichever way you chose to solve it (high or low), just write that answer down for fixed cost. Given the nature of this homework assignment, it can be done completely in Excel. If you prefer to handwrite the non-regression parts, you can submit them separately or attach the image within the Excel file. Please submit vour Excel file for this homework. This assignment is due on or by Friday, September 15 . Question 1) Shady Practice Hospital is trying to determine what is driving their costs and formulas to use to predict future costs at their hospital. You have been assigned to the task of determining these formulas and related costs. Below you will find a screenshot form the Controller's computer showing Medical Supplies costs, Number of procedures, and Number of patient-hours for the past twelve months. Using this information, answer the following questions below: Required (round all numbers to two decimal places, if needed): 1. Run a regression analysis on Excel for medical supplies costs using number of procedunes as your driver. Make sure this is included in your homework submission. You can answer the following questions on the same tab/sheet or write them down and submit separately: a. Using your results from (1), write the cost formula for medical supplies cost. b. Using the cost formula from ( 1a ), what would medical supplies cost be for a month with 417 procedures? c. Using the high-low method", write the cost formula for medical supplies cost using number of procedures as your driver. 2. On a separate tab/sheet on the same file, run a regression analysis on Excel for medical supplies costs using number of patient-hours as your driver. Make sure this is included in your homework submission. You can answer the following questions on the same tab/sheet or write them down and submit separately: a. Using your results from (2), write the cost formula for medical supplies cost. b. Using the cost formula from ( 2a ), what would medical supplies cost be for a month with 3,333 patient-hours? c. Using the high-low method*, write the cost formula for medical supplies cost using number of patient-hours as your driver. 3. Based on your answers from parts 1 \& 2, which driver (number of procedures or number of patient-hours) is better for detemining costs? Explain using R2 as part of your answer. *Note: On lc \& 2c, your fixed cost answers will be slightly different using the high number and/or the low number due to rotinding. Whichever way you chose to solve it (high or low), just write that answer down for fixed cost