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5. 25 T16 Undo 6 7 B 9 G Paste Clipboard 127237 X Month August September October Calibri November December BIU B January February fx D Font 3,350 3,700 3,650 3,450 A B 1 Cost Behavior Performing a regression analysis to predict overhead for a hospital laboratory 4,200 2,500 3,800 11 E $ $ $ S ' ' A Number of Lab Total Laboratory Tests Performed Overhead Costs 23,500 27,550 24,500 26,400 28,500 $ po 15 F E 22,800 25,350 10101 G The manager of the main laboratory facility at Elmhurst Health Center is interested in being able to predict the overhead costs each month for the lab. The manager believes that total overhead varies with the number of lab tests performed but that some costs remain the same each month regardless of the number of lab tests performed. The manager of the main laboratory facility at Elmhurst Health Center collected the 4 following seven months of data. The number of tests performed and the total monthly overhead costs for the lab follow: 5 11 12 13 14 15 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste 16 from the Instruction tab you will be marked wrong. 17 a Reference values calculated in previous requirements as needed. INSTRUCTIONS ENTERANSWERS 2 Wrap Text Alignment H 3 Predict the lab's total overhead costs for the month if 3,500 tests are performed. Merge & Center 18 Requirements 1 Run a regression analysis using data for August through February. Determine the lab's cost equation (use the output 19 from the regression analysis you performed using Excel). 20 a. Rename the regression output tob name "REGRESSION" 2 Determine the R-square using the Excel output you obtain. K General % Number 538 88 M F N C Fo A B CD E F H 1 1. Run a regression analysis using data for August through February. Determine the lab's cost 2 a. Rename the regression output tab name "REGRESSION". (Always use cell references and formulas where appropriate to receive full credit. If you 3 copy/paste from the Instruction tab you will be marked wrong.) 4 5 y= 6 7 2. Determine the R-square using the Excel output you obtain. (Always use cell references and formulas where appropriate to receive full credit. If you 8 copy/paste from the Instruction tab you will be marked wrong.) 9 10 R square= 11 12 3. Predict the lab's total overhead costs for the month if 3,500 tests are performed. 13 a. Reference values calculated in previous requirements as needed. (Always use cell references and formulas where appropriate to receive full credit. If you 14 copy/paste from the Instruction tab you will be marked wrong.) 15 18 19 X 16 The total laboratory overhead at a volume of 3,500 lab tests is 17 20 21 G K

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