Reference no: EM13628736

The total expenses of a hospital are related to many factors. Two of these factors are the number of beds in the hospital and the number of admissions. Data were collected on 14 hospitals, as shown in the table below:

(1) State the linear equation

2) explain teh overall statistical significance of the model

3) explain the statistical significance of each independent variable in the model

4) interpret the adjusted R^2

5) is htis a good predictive equation? Which variables should be excluded if any and why?

Hospital	number of beds	admissions (100s)	Total expenses (millions)
1	215	77	57
2	336	160	127
3	520	230	157
4	135	43	24
5	35	9	14
6	210	155	93
7	140	53	45
8	90	6	6
9	410	159	99
10	50	18	12
11	65	16	11
12	42	29	15
13	110	28	21
14	305	98	63