Attachment # 00001691 - BS350_Unit_4_Assignment.docx
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Chapter 4 AssignmentAnswer these questions directly on this document. You will submit two files for your assignment: this document, plus your regression results in Excel. Do not put answers to the questions in your Excel file.1.The Hospital Data tab of the Chapter 4 Assignment Data spreadsheet contains information on the total expenses of hospitals and the number of admissions in those hospitals. Perform a regression on this data with total expenses as the Y variable, and answer the following questions.(a)Find the equation that relates total expenses (Y) to number of admissions (X).(b)Predict the total expenses of a hospital with 90,000 admissions.(c)Find SST:SSE:SSR: and MSE:(d)Find the coefficient of determination, and interpret what this value means in the context of this hospital data.(e)Find the significance of F. Based on this value, is our model statistically significant at the 5% level? Is there a relationship between total expenses and number of admissions?2.The Housing Data tab of the Chapter 4 Assignment Data spreadsheet contains information on the sales prices of houses, their square footage, and their age. Perform a regression on this data with sales price as the Y variable, and answer the following questions.(a)Find the equation that relates sales price (Y) to square footage (X1) and age (X2).(b)Estimate the sales price of a home with square footage 2,000 and age 20.(c)Find the coefficient of determination, and interpret what this value means in the context of this housing data.(d)Find the significance of F. Based on this value, is our model statistically significant at the 5% level? (e)Find the p-value for square footage and the p-value for age. At the 5% level, is square footage alone a statistically significant variable in determining sales price? Is age alone a statistically significant variable in determining sales price? Explain how you know.
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