Question

The administrator of Azalea Hills Hospital would like a cost formula linking the administrative costs
involved in admitting patients to the number of patients admitted during a month. The admitting
department's cost and the number of patients admitted during the immediately preceding eight months is
Month
given in the following table:
May
June
July
August
September
October
November
December
Number of patients
admitted
1.800
1.900
1,700
1,600
1,500
1.300
Admitting
department's cost
14.700
15,200
13,700
14.000
14,300
13, 100
12.800
14.800
1,100
1,500
Required:
Using the high-low method to establish the fixed and variable components of admitting costs.
(1) Express the fixed and variable components of admitting costs as a cost formula (high-low) in the f
(m) Use least square regression method to express the form Y=a+ bx
Y=a+ bx
Total costa​

Answer 1

Answer:

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