Question

The administrator of Azalea Hills Hospital would like a cost formula linking the administrative ce
involved in admitting patients to the number of patients admitted during a month. The admit
department's cost and the number of patients admitted during the immediately preceding eight mont
given in the following table:
Month
Number of patients
Admitting
admitted
department's cost
May
1.800
14,700
June
1,900
15.200
July
1,700
13,700
August
1,600
14,000
September
1,500
14,300
October
1,300
13. 100
November
12,800
December
1,500
14,800
Required:
( Using the high-low method to establish the fixed and variable components of admitting costs
() Express the fixed and variable components of admitting costs as a cost formula (high-low) i
Y=a+bX
(iii) Use least square regression method to express the form Y=a+bX
1,100​

Answer 1

Answer:

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