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STATS -Find the best regression model to predict the total expenses of a hospital

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Question;The total expenses of a hospital are related to many factors. Two of these factors are the number of bedsin the hospital and the number of admissions. Data were collected on 14 hospitals, as shown in the tableattached below:HOSPITALNUMBER OF BED'sADMISSSIONS (100s)TOTAL EXPENSES (MILLIONS);12157757;2336160127;3520230157;41354324;535914;621015593;71405345;89066;941015999;10501812;11651611;12422915;131102821;143059863;Find the best regression model to predict the total expenses of a hospital. Discuss the accuracy of thismodel. Should both variables be included in the model? Why or why not?

 

Paper#61861 | Written in 18-Jul-2015

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