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  3. month: radiology tests:   total costs: january 2

Month: Radiology Tests:   Total Costs: January 2,800    $133,500 February 2,600 $135,060 March 3,100 $175,000 April 3,500 $170,600 May 3,400...

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Accounting

Month: Radiology Tests:   Total Costs:

January 2,800    $133,500

February 2,600 $135,060

March 3,100 $175,000

April 3,500 $170,600

May 3,400 $176,900

June 3,700 $186,600

July 3,840 $174,450

August 4,100 $195,510

September 3,450 $15,300

1. Compute the cost formula for radiology services using themethod of least square

2. Using the formula computed in requirement 1, what is thepredicted cost of radiology services for October for 3,500appointments? (Round the answer to the nearest dollar)

3. What does the coefficient of determination tell you about thecost formula computed in requirement 1? What are the t statisticsfor the number of tests and the intercept term? What do thesestatistics tell you about the choice of number of tests as theindependent variable and the probability that there are fixedcosts?  

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