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Truman Hosphal specializes in outpatient surgeries for relat.vely minot procodures. Doug estimated the regrossion equation for (a) medical supplies costs and number of (Click the icon to viow information about medical supples.) procedures and (b) medical supply costs and number of pulfent hours and had the (Click the icon to view the past year data.) following result: (Click the icon to view the regretsian results.) (Click the icon to vew discussion results) Read the Begh by running a muitiple regrossion to estimate the regression equation for modical supplies costs using both number of orocedures and number of patienthoun as indopendiet variation. You should cbtain the following resuitt: Regression 3: Medical supplies costs = a (b (b1 No, of procedures) +(b2= No. ef patienthouns) Economic plasibility Coodness of fit Significance of indepondent variables Specification of etemation askumptions preterted in this problem? Explain. Doug estimatod the rogression equation for (a) medical supplies costs and numbor of procedures and (b) medical supply costs and number of pationt-hours and had the following resuits: Data table discussion resista.) and number of patiend hours at indepondent varabient. You pendent variables, and specificatian of excinuton atsumptions pecializes in outpatient surgeries for relatively minor procedures. Doug estimasid the regressian equation for (a) medical supplies coeta and number of to view information nbout medical supplies. procedures and (b) medcel supply cests and number of patienthouri and had the Requirements Fun a multiple regression to estimate the regression equation for medical suppies costs using both number of procedures and number of patient hours as independent variables. You should oblan the following resuk: Regression 3: Medical aupplies costs =a(b1 No, of procedures )+(b2N No, of paticeh-hours). r2= 0.78; Durben-Watson statistic = 1.27 1. Evaluase the multiple regression oupout using the criteria of economic plasibliy. gocstres of fit sionficance of independent variaties, and specfcation of estimation askimpeors 2. What potential issues could arise in multole tegression analyis thist are not prusent in smele. 3. Which regression modeis (Pegresuion 1, 2, or 3) woud rou recomemend Laura use? Explain Data table b view the regression cesuati ? rew discossian resuts ) D its cobuea and number of patienthoun an independect varables You I independent variahles, and apecficaton of eatichation asumptions. La? is there evidence of such ericulaes in the mumple reyession Truman Hospital specializes in outpatient surgeries for relatively minor procedures. (Click the icon to viow infarmation about medical supelies.) Doug estrased the rogression equation for (a) modical supples costr sent nunber of (Click the loen to viow the past year data.) procedures and (b) medical supply costs and number of patienthours and had the followlog resuls: (Cick the icen to view the regresaige mesults.) (cick the icon to view disassion resulu.) Read the teouinements. Independent variable 2: No. of patienthours 541.58511.35 r2=0.78; Durbin-Watson statistic =1.27 Requirement 1. Evaluate the multiple regression output uting the critoria of economic plausbiliy, goodness of ft, significance of independert variablos, and specifcation of estiration assurtibera presented in this problem? Explain. Is there tividence of nuch dificultes in the mutiple regression preserted in this problem? Explan. (Round tho comficiont of cormeation to tiwe desterai ghocen.) The cortelation foature, vaing data analysis software, roveals a coefficiont of connelafon of of procedures and number of patiant-hours. Thin in the thrishold of 0.70 that is usualy takh as a possible signe of problenis. As evidence. there is a rubstantia patent(hours, in the evirnated confficient, Truman Hosphal specializes in outpatient surgeries for relat.vely minot procodures. Doug estimated the regrossion equation for (a) medical supplies costs and number of (Click the icon to viow information about medical supples.) procedures and (b) medical supply costs and number of pulfent hours and had the (Click the icon to view the past year data.) following result: (Click the icon to view the regretsian results.) (Click the icon to vew discussion results) Read the Begh by running a muitiple regrossion to estimate the regression equation for modical supplies costs using both number of orocedures and number of patienthoun as indopendiet variation. You should cbtain the following resuitt: Regression 3: Medical supplies costs = a (b (b1 No, of procedures) +(b2= No. ef patienthouns) Economic plasibility Coodness of fit Significance of indepondent variables Specification of etemation askumptions preterted in this problem? Explain. Doug estimatod the rogression equation for (a) medical supplies costs and numbor of procedures and (b) medical supply costs and number of pationt-hours and had the following resuits: Data table discussion resista.) and number of patiend hours at indepondent varabient. You pendent variables, and specificatian of excinuton atsumptions pecializes in outpatient surgeries for relatively minor procedures. Doug estimasid the regressian equation for (a) medical supplies coeta and number of to view information nbout medical supplies. procedures and (b) medcel supply cests and number of patienthouri and had the Requirements Fun a multiple regression to estimate the regression equation for medical suppies costs using both number of procedures and number of patient hours as independent variables. You should oblan the following resuk: Regression 3: Medical aupplies costs =a(b1 No, of procedures )+(b2N No, of paticeh-hours). r2= 0.78; Durben-Watson statistic = 1.27 1. Evaluase the multiple regression oupout using the criteria of economic plasibliy. gocstres of fit sionficance of independent variaties, and specfcation of estimation askimpeors 2. What potential issues could arise in multole tegression analyis thist are not prusent in smele. 3. Which regression modeis (Pegresuion 1, 2, or 3) woud rou recomemend Laura use? Explain Data table b view the regression cesuati ? rew discossian resuts ) D its cobuea and number of patienthoun an independect varables You I independent variahles, and apecficaton of eatichation asumptions. La? is there evidence of such ericulaes in the mumple reyession Truman Hospital specializes in outpatient surgeries for relatively minor procedures. (Click the icon to viow infarmation about medical supelies.) Doug estrased the rogression equation for (a) modical supples costr sent nunber of (Click the loen to viow the past year data.) procedures and (b) medical supply costs and number of patienthours and had the followlog resuls: (Cick the icen to view the regresaige mesults.) (cick the icon to view disassion resulu.) Read the teouinements. Independent variable 2: No. of patienthours 541.58511.35 r2=0.78; Durbin-Watson statistic =1.27 Requirement 1. Evaluate the multiple regression output uting the critoria of economic plausbiliy, goodness of ft, significance of independert variablos, and specifcation of estiration assurtibera presented in this problem? Explain. Is there tividence of nuch dificultes in the mutiple regression preserted in this problem? Explan. (Round tho comficiont of cormeation to tiwe desterai ghocen.) The cortelation foature, vaing data analysis software, roveals a coefficiont of connelafon of of procedures and number of patiant-hours. Thin in the thrishold of 0.70 that is usualy takh as a possible signe of problenis. As evidence. there is a rubstantia patent(hours, in the evirnated confficient

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