4-25 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. Data were collected on 14 hospitals, as shown in the following table: HOSPITAL NUMBER OF BEDS ADMISSIONS (100s) TOTAL EXPENSES ($1,000,000s) 1 215 77 57 2 336 160 127 520 230 157 135 43 24 35 9. 14 6. 210 155 93 3.

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Question
7
140
53
45
90
9.
410
159
99
10
50
18
12
11
65
16
11
12
42
29
15
13
110
28
21
14
305
98
63
Find the best regression model to predict the total expenses of a hospital. Discuss the accuracy of this model.
Should both variables be included in the model? Why or why not?
6.
Transcribed Image Text:7 140 53 45 90 9. 410 159 99 10 50 18 12 11 65 16 11 12 42 29 15 13 110 28 21 14 305 98 63 Find the best regression model to predict the total expenses of a hospital. Discuss the accuracy of this model. Should both variables be included in the model? Why or why not? 6.
4-25 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. Data were collected on 14 hospitals, as shown in the following table:
HOSPITAL
NUMBER OF BEDS
ADMISSIONS (100s)
TOTAL EXPENSES ($1,000,000s)
1
215
77
57
2
336
160
127
520
230
157
135
43
24
35
9.
14
6.
210
155
93
3.
Transcribed Image Text:4-25 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. Data were collected on 14 hospitals, as shown in the following table: HOSPITAL NUMBER OF BEDS ADMISSIONS (100s) TOTAL EXPENSES ($1,000,000s) 1 215 77 57 2 336 160 127 520 230 157 135 43 24 35 9. 14 6. 210 155 93 3.
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