The total expenses of a hospital are related to many factors. Two of these factors...
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Accounting
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 was collected in 14 hospitals, as shown in the following table.
Hospital
Number of Beds
Admissions(100s)
Total expenses (Millions)
1
215
77
57
2
336
160
127
3
520
230
157
4
135
43
24
5
35
9
14
6
210
155
93
7
140
53
45
8
90
6
6
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?
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