2) The total expenses of a hospital are related to many factors. Two of these factors are the number of beds in the hospital and the number of admissions. SPSS output is given. Answer the following question. Model Summary Std. Error of the Estimate 8369 a. Predictors: (Constant), Admissions, Number_of_Beds R Square 987 Adjusted R Square 970 R Model 975 ANOVA Sum of Squares 29901.341 df Mean Square Sig. 14950.671 213.478 000 Model Regression Residual 770.373 11 70.034 30671.714 Total a. Dependent Variable: Total_Expenses D. Predictors: (Constant, Admissions, Number_ot_Beds 13 Coefficients Unstandardized Coeffcients Std. Error 3.756 Standardized Coeficients Beta Model (Constant Sig 654 .174 865 Number_of_Beds 023 045 072 511 620 Admissions 623 .095 920 6.557 .000 a. Dependent Variable: Total_Expenses (a) Develop a regression model to predict the total expenses of a hospital. (b) Interpret the slope of this regression model. () Describe the strength between the dependent and independent variable. (d) Determine which factors/independent variables that is significant in predicting the total expenses? Use p-value method at 0.05 level of significance.
Minimization
In mathematics, traditional optimization problems are typically expressed in terms of minimization. When we talk about minimizing or maximizing a function, we refer to the maximum and minimum possible values of that function. This can be expressed in terms of global or local range. The definition of minimization in the thesaurus is the process of reducing something to a small amount, value, or position. Minimization (noun) is an instance of belittling or disparagement.
Maxima and Minima
The extreme points of a function are the maximum and the minimum points of the function. A maximum is attained when the function takes the maximum value and a minimum is attained when the function takes the minimum value.
Derivatives
A derivative means a change. Geometrically it can be represented as a line with some steepness. Imagine climbing a mountain which is very steep and 500 meters high. Is it easier to climb? Definitely not! Suppose walking on the road for 500 meters. Which one would be easier? Walking on the road would be much easier than climbing a mountain.
Concavity
In calculus, concavity is a descriptor of mathematics that tells about the shape of the graph. It is the parameter that helps to estimate the maximum and minimum value of any of the functions and the concave nature using the graphical method. We use the first derivative test and second derivative test to understand the concave behavior of the function.
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