Question

Score.0of1 p 20f 7(h complete) Y 15.1.6-T Question Help A hospital would like to davalop a regression model to predict the total hospital bill for a patient based on the age of the patient)his or her langth of stay (x2) and the number of days in the hospital's intensive care unit (ICU) (3) Data for these variables can be found i the accompanying table Complete parts a through e below Click the icon to view the data for a random selection of patients. i Data for hospital bills a) Construct a regression model using all three independent variables Full Data Set osts Da Round to the nearest whole number as needad.) 1429 1955 21 1061340 28 38 10683 1082475 3181 4359 4732 490 1257528 125 36 6290 46 661 13627 13759356 18619 946 18220 9070 49 8102 42 8218 31 14681 3912 2878157 286616314 345 49 Enter your answer in the edit fields and then click Check Answer 40 245 68 11 A hospital would like to develop a regression model to predict the total hospital bill for a patient based on the age of the patient (x1), his or her length of stay(x2), and the number of days in the hospitars intensive care unit (ICU) (x3). Data for these variables can be found in the accompanying table. Complete parts a through e below EB Click the icon to view the data for a random selection of patients. a) Construct a regression model using all three independent variables. y(-623) (109)x(1284)2(1837)x Round to the nearest whole number as needed.) b) Interpret the meaning of the regression coefficients. Select the correct choice below and, if necessary, fill in the answer boxes within your choice Round to the nearest dollar as needed.) O A. Each aditional day of hospitalization decreases the hospital bill by s.Each additional year of age decreases the hospital bill by Each additional day O B. Each additional year of age increases the hospital bill by S Each additional day of hospitalization increases the hospital bll by S Each additional day O C. There is no meaningful interpretation of the regression coefficients for this application spent in the ICU decreases the hospital bill by S spent in the ICU increases the hospital bill by S

Answer 1

SUMMARY OUTPUT
Regression Statistics
Multiple R	0.847769
R Square	0.718712
Adjusted R Square	0.700368
Standard Error	4225.287
Observations	50
ANOVA
	df	SS	MS	F	Significance F
Regression	3	2.1E+09	6.99E+08	39.17792	1.01E-12
Residual	46	8.21E+08	17853051
Total	49	2.92E+09
	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%
Intercept	-624.154	1649.563	-0.378	0.707	-3944.552	2696.245
x1	108.718	39.674	2.740	0.009	28.859	188.578
x2	1283.579	251.790	5.098	0.000	776.752	1790.405
x3	1836.797	886.906	2.071	0.044	51.548	3622.046

a) Regression equation:

リー-624 +109 x1 + 1284 x2 1837 x3

b) Interpretation:

Answer B. Each additional year of age increases the hospital bill by $109. Each additional day of hospitalization increases the hospital bill by $1284. Each additional day spent in the ICU increases the hospital bill by $1837.